Birla Corporation bought the Eastern cement plants of Lafarge for Rs 5,000 crore from Lafarge India following the Competition Commission of India (CCI) order for the French company to divest itself of the units after its Rs $44bn merger with Holcim, reported the Economic Times and others.
Nishith Desai Associates’ Nishchal Joshipura and Karan Kalra with Abhinav Harlalka and Tanya Pahwa advised Birla.
LafargeHolcim became a single entity from July via its global merger, with the Lafarge side having been advised by AZB & Partners Mumbai managing partner Zia Modi, partner Alka Nalavadi and senior associate Qais Jamal on the corporate aspects of the transaction.
Lafarge also drafted in Vinod Dhall, managing associate Ram Kumar and associate Avinash Amarnath of Vinod Dhall-TTA (Vinod Dhall in collaboration with Talwar Thakore & Associates).
Holcim was advised by Cyril Amarchand Mangaldas corporate partner Ashwath Rau and competition partner Nisha Uberoi.
SBI Capital Markets and KRISCORE Financial Advisors were investment advisors to Birla Corporation, while Citi and Arpwood assisted Holcim and Lafarge on the financial side.
Birla won the deal against several private equity companies and other global majors according to reports, and will see it acquire two cement units in Jharkhand and Chhattisgarh remains subject to CCI and other regulatory approvals.
Comments
Poor Kian, if he reports all the deals, these 2 firms would feature every alternate day since that's what their pace is like.
Other firms need to pull up their socks as opposed to ranting here of not doing enough deals etc
As such we can't confirm all the lawyers who worked on a deal necessarily...
When the press releases come we'll update the story.
Best regards,
Kian
Can't understand why these firms don't credit associates, maybe there are too many coming and going.
No issue with replacing AZB and SAM. Happens often. Enough.