Indian law firm Trilegal recently acted as transactional lawyers on behalf of U.S. paper giant International Paper, in the latter’s acquisition of a majority stake in Andhra Pradesh Paper Mills (APPM). The transaction, with a total deal amount of $432 million, was the largest of its kind in India’s paper industry.
International Paper purchased 53.5 percent of the APPM shares from Kolkata-based LN Bangur and related family members and affiliates for approximately $257 million cash and a non-compete payment of $62 million. In addition, International Paper acquired 21.5 percent of the minority shares in a public tender offer completed on October 8, 2011 $104 million in cash.
The transaction has positioned International Paper as the first global paper and packaging firm with a significant position in India's fast-growing economy.
Trilegal’s team consisted of Anand Prasad and Christopher Krishnamoorthy, while APPM was represented by Khaitan & Co. ALB
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