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Lex Consult, Hariani act on $4.1m food investor buy of desi banana producer Desai Fruits

Agriculture and food-focussed investor Pioneering Ventures is increasing its stake to 90% in Desai Fruits and Vegetables, which it had incubated, by picking up 28.37% stake from Deepak Fertilizers and Petrochemicals Corporation Limited. In the deal, Pioneering Ventures will be acquiring stake from Deepak Fertilizers in two tranches wherein the first 21.51% has already been acquired for a consideration of 28.20 Crores and the remaining stake will be acquired later, according to Lex Consult about the deal that has also been reported by VCCircle.

Lex Consult advised Pioneering Ventures led by partners Majid Afsar Siddiqi and Naresh Pareek with associate Shubham Soni.

Hariani and Co acted for Deepak Fertilizers.

2019-07-19

Deal value: INR 28.20 Crores

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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