Shardul Amarchand Mangaldas advises Royal DSM N.V. and DSM India Private Limited in acquisition of the Engineering Plastics Business of SRF Limited
May 14, 2019
Shardul Amarchand Mangaldas (SAM & Co) has advised Royal DSM N.V. (“DSM”) and DSM India Private Limited in acquisition of the Engineering Plastics Business (“EPB”) of SRF Limited on a slump sale basis, by way of entering into a business transfer agreement (“BTA”) for an enterprise value of INR 3,200,000,000 (Indian Rupees three hundred and twenty crores) subject to working capital adjustment.
The Mergers & Acquisitions practice team at SAM & Co acted as Indian legal counsel to DSM and and were involved in structuring the transaction, drafting and negotiating the BTA and the ancillary agreements that includes commercial agreements pertaining to tolling agreement, waste conversion and yarn supply agreement, transitional services agreement, IPR deed of conveyance and deed of conveyance of buildings. SAM & Co. also advised on the tax, competition, intellectual property, regulatory, litigation and real estate related aspects of the transaction.
The transaction team from SAM & Co included Mr. Raghubir Menon, Regional Practice Head – Mumbai; Ms. Natashaa Shroff, Partner; Ms. Ekta Gupta, Partner; Ms. Deepa Rekha, Principal Associate and Ms. Pragya Seth, Senior Associate.
The other teams from SAM & Co that were involved include Ms. Aparna Mehra, Partner; Ms. Gayatri Pradhan, Associate and Ms. Abhiruchi Jhawar, Associate for Competition Law Analysis. Mr. Anuj Berry, Partner and Mr. Malak Bhatt, Principal Associate for Litigation. Mr. Abhay Sharma, Partner; Mr. Rajat Bose, Partner; Ms. Ankita Bhasin, Principal Associate and Ms. Maulika Hegde, Associate for tax law analysis. Mr. Abhay, J.V., Partner; Ms. Apoorva Murali, Senior Associate and Ms. Leoni Mahanta, Senior Associate for Intellectual Property Aspects and Ms. Ashoo Gupta, Partner for Real Estate Aspects.
Other parties involved is Clifford Chance led by Mr. Gregory Crookes for international counsel for DSM.
The total deal value is Approx. USD 45,728,000 and the date of signing was 11 May 2018.