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Advaita, JSA team up for Brenntag AG majority buy in Chennai-based Raj Petro, with D&D, Harini Subramani

Germany-based chemical distributor, Brenntag AG has acquired a majority stake of 65% stake in Raj Petro Specialities, retailers of own-blended petroleum related products, as a move to expand its footprint in the Indian chemical distribution market, reported Business Standard and Times of India. The first tranche of the deal closing has reportedly come into force from April 2018, commanding the total enterprise value of Chennai-based Raj Petro at around $82.57m, while the remaining 35% stake is expected to be acquired after a period of five years via a second tranche, with a possible extension of one or two years.

The Advaita Legal team advised Brenntag Holding B.V., Netherlands led by principal Satyajit Gupta and associates Shradha Sachdev and Achin Goel.

J Sagar Associates (JSA) team led by partners Sandeep Mehta and Srabonee Roy, senior associate Aarti Iyer and associates Ashrafi Ginwalla, Vishal Shah and Mishti Vora. also advised Brenntag Holdings.

Desai & Diwanji acted as the legal advisors to the sellers and Raj Petro led by partner Siddharth Mody, senior associate Rahul Deodhar and associate Prerana Chaudhari.

Raj Petro Specialities and the sellers were also represented by independent legal counsel Harini Subramani in the deal.

Brenntag AG, a global leader in the chemical distribution sector, provides distribution solutions for industrial and speciality chemicals worldwide also providing other value-added services and serving customers in various industries, such as adhesives, paints, oil and gas, food, water treatment, personal care, and pharmaceuticals. The current acquisition of Raj Petro would allow the company to expand their footprint not only in India, but also in other Asia Pacific countries, Africa and the Middle Eastern markets, wherein the revenue from the Indian market is expected to be about €250 million, including the contribution from Raj Petro.

2017-12-18

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