J. Sagar Associates and Jones Day have advised Indian agro-business company UPL on its agreement to purchase Arysta LifeScience from U.S. chemicals company Platform Specialty Products for $4.2 billion. Greenberg Traurig represented Platform.
Baker McKenzie Wong & Leow, Appleby Global and JurisCorp acted as the legal counsel to the mandated lead arrangers — MUFG, Rabobank, ANZ, Barclays, DBS, First Abu Dhabi Bank, JP Morgan and Societe Generale — and to more than 20 primary syndicate lenders.
This is the fifth-largest outbound M&A from India, according to the Economic Times. Arysta is a provider of crop protection solutions.
The Abu Dhabi Investment Authority (ADIA) and venture capital firm TPG are supporting the acquisition by investing $600 million each in a UPL subsidiary. ADIA and TPG were both represented by Cleary Gottlieb Steen & Hamilton and Platinum Partners.
The JSA team was led by partner Lalit Kumar, who was assisted by partners Aashit Shah and Utsav Johri on the financing aspects.
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