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Amarchand, JSA get milk in $275m Groupe Lactalis FDI from Carlyle

Big dairy: Got milk
Big dairy: Got milk

Amarchand Mangaldas advised the world’s largest dairy player Groupe Lactalis in buying Hyderabad-based Tirumala Milk Products for Rs 1,750 crore ($275m), as reported by The Hindu.

Private equity major Carlyle Group sold its entire stake and was advised by J Sagar Associates (JSA).

Amarchand Mumbai corporate partner Gurpreet Ashar acted for the French dairy group on what VCCircle reported was the largest ever dairy industry transaction in India.

JSA Mumbai partner Kaushik Mukherjee acted for Carlyle which, according to Firstpost, had held a 20 per cent stake in Tirumala.

The deal will help Lactalis reduce its reliance on Europe, which provides 60 per cent of its revenues, reported Mint. Foreign companies announced $15.6 billion of acquisitions in India last year, up from $11 billion in 2012, according to data compiled by Bloomberg, as reported by Mint.

Photo by Usdagov

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