Skip to main content
news
A view shows Ambuja Cement bags, to be carried to a construction site, in a load carrier in Ahmedabad, India, July 29, 2022. REUTERS/Amit Dave/

 

Cyril Amarchand Mangaldas has advised Adani Group’s Ambuja Cement on its acquisition of a majority stake in cement manufacturer Sanghi Industries, which was counselled by Khaitan & Co.

As per the agreement, Ambuja Cement, India’s second-largest cement producer, will buy close to a 57 percent stake in Sanghi, valued at over $600 million, from its existing promoter group led by Ravi Sanghi.

The CAM team was led by partners Ruetveij Pandya and Jeeta Nayak. Finance partner Atman Desai and the firm’s antitrust head Avaantika Kakkar also supported the deal.

Khaitan’s team advising Sanghi Infrastructure was led by public M&A partner Abhishek Dadoo. Khaitan’s M&A head Haigreve Khaitan advised on deal structuring. Partners Anshuman Sakle (antitrust), Shivanshu Thaplyal (mining), Harsh Parikh (real estate) and Smita Jha (finance) also assisted on the deal. Partner Mehul Shah advised on merger-related-structuring issues.

CAM advised the Adani Group when it entered the Indian cement sector last year with a $10.5 billion deal to buy Ambuja and ACC from Swiss giant Holcim.

TO CONTACT EDITORIAL TEAM, PLEASE EMAIL ALBEDITOR@THOMSONREUTERS.COM

Related Articles

Deals

Khaitan, JSA, Hogan Lovells guide $515 mln Waaree IPO

by Nimitt Dixit |

Khaitan & Co has advised Waaree Energies, India's largest manufacturer and exporter of solar modules, on its $515 million initial public offering, with JSA Advocates & Solicitors and Hogan Lovells guiding the bookrunning lead managers.

Deals

CAM, Khaitan guide Adani-backed Renew Exim’s $380 mln ITD acquisition

by Nimitt Dixit |

Cyril Amarchand Mangaldas has advised Adani Group's Dubai-based firm Renew Exim DMCC on its acquisition of a 46.64 percent stake in ITD Cementation India for around $380 million from Italian-Thai Development Public Company, who was represented by Khaitan & Co.

Deals

CAM, AZB, SAM, Latham advise on landmark $1.3 bln Swiggy IPO

by Nimitt Dixit |

Cyril Amarchand Mangaldas is advising SoftBank-backed Indian food and grocery delivery giant Swiggy on its much-anticipated initial public offering worth $1.3 billion, with AZB & Partners and Latham & Watkins advising the bookrunning lead managers.