US-based spirits maker Sazerac Company has acquired 28% equity stake in India’s leading liquor John Distilleries (JDPL) from leading independent private equity firm Gaja Capital, as reported by VCCircle and Livemint. The remaining 15% stake held by Gaja is said to be acquired by Sazerac in the second tranch of the deal over the next two years, confirming the full exit of the PE firm from the company. John Distilleries promoter Paul John will continue to hold 57% stake in the company.

DSK Legal acted as the legal advisers to the sellers Gaja Capital and GPE (India) on the transaction and was represented by co-founding partner Satish Kishanchandani, associate partner Pritha Jha, senior associate Deepti Sarma and associate Pracheta Redhu. The DSK transaction team advised and assisted in remote execution and closing of the transaction documents along with the drafting, negotiating and finalizing the share purchase agreement and the restated shareholders’ agreement between the parties involved in the deal, according to its press release.

International firm Cooley and Nishith Desai Associates lawyers Vaibhav Parikh, R Ramachanderan, Santosh Gangavati and Rishabh Sharma acted and represented the purchasers, Sazerac Investment Holdings, for the deal.

AZB & Partners represented the John Distilleries and the promoter, Paul P John.

Other advisors involved in the transaction were Jefferies India, which acted as the exclusive financial advisors to Gaja Capital and Rabobank for Sazerac.

2017-10-11

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.