[India], Apr. 10 (NewsVoir): Shardul Amarchand Mangaldas advised Tata Chemicals Limited (Tata Chemicals) on its Rs. 123 crore acquisition of precipitated silica business of Allied Silica Limited (ASL), on a slump sale basis.
The General Corporate Practice of Shardul Amarchand Mangaldas advised Tata Chemicals on the transaction that included conducting due diligence; drafting and advising on the business transfer agreement; and advising on process of transfer of leasehold property of State Industries Promotion Corporation of Tamilnadu Limited (SIPCOT) from ASL to Tata Chemicals.
The M&A transaction team was led by Abhishek Guha, partner; and included Anwesha Haldar, senior associate, and Alind Chopra, associate. Dorothy Thomas, partner; Aniruddha Ghosh, principal associate; and Shruthi Lakshmi, associate provided local regulatory and real estate advice.
As a part of the transaction, Tata Chemicals Limited will be acquiring the precipitated silica business of ASL, by way of slump sale pursuant to a business transfer agreement as a part of TCL's journey to build technologically enabled, differentiated businesses, with greater customer centricity, by leveraging its core strengths.
Parties involved in the transaction were Tata Chemicals Limited and Allied Silica Limited and promoters of Allied Silica Limited.
Other advisors to the agreement were A K Mylsamy and Associates LLP ('Legal Counsel for ASL and promoters of ASL').
The deal was signed on April 07, 2018 and closing shall take place in the next three months subject to fulfilment of certain agreed conditions precedents and milestones. (NewsVoir)