Khaitan & Co advised Italian-Thai Development Public Company Limited (Seller), the promoter of ITD Cementation India Limited (Target Company), in its proposed sale of 46.64% shares of the Target Company to Renew EXIM DMCC (part of the Adani group) (Acquirer). The transaction involves an open offer by the Acquirer to the public shareholders of the Target Company. The aggregate transaction value is approximately INR 5,757.9 crore.
The core team consisted of Abhishek Dadoo (Partner), Anvita Mishra (Principal Associate), Tanima Tandon (Principal Associate), Aayush Agarwal (Senior Associate), Gaurang Mansinghka (Associate) and Krithika Kataria (Associate) with assistance from the following:
Strategic advice and inputs: Bharat Anand (Partner) and Aditya Patni (Partner);
Competition law aspects: Pranjal Prateek (Partner) and Armaan Gupta (Senior Associate);
Securities laws related aspects: Gaurav Malhotra (Counsel);
Banking related aspects: Dr Siddharth Srivastava (Partner), Henna Vadhera (Counsel) and Yash Patel (Senior Associate);
Tax related aspects: Ritu Shaktawat (Partner) and Bharat Jain (Principal Associate).
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