Competition / Antitrust

Khaitan & Co advised VINCI Highways, a subsidiary of VINCI Concessions, in relation to 100% acquisition of the Safeway Concessions by Concessoc 41 (part of VINCI Concessions) from Macquarie Asia Infrastructure Fund 2, managed by Macquarie Asset Management. Safeway Concessions platform comprises of nine toll road assets across Andhra Pradesh and Gujarat, totalling nearly 700 km along with an integrated O&M entity.  Completion is subject to customary conditions and regulatory approvals.

Khaitan & Co advised consortium comprising of Aditya Birla Group, Times of India Group, Bolt Ventures and Blackstone on the proposed acquisition of Royal Challengers Sport Pvt Ltd from United Spirits Ltd, in a transaction valuing the business at ~USD 1.8 billion. 

Khaitan & Co acted as legal advisors to Premji Invest (as existing lead investor making a follow-on investment to co-lead the overall funding with Lightspeed) in respect of its investment in Weaver Services Pvt Ltd, a technology-led housing finance platform focused on the affordable housing segment.

Khaitan & Co advised Stonepeak Partners LLC on the proposed acquisition of Castrol Group Holdings Ltd from BP plc. (Seller), in a transaction valuing the Castrol business at an enterprise value of ~USD 10 billion. The Seller will retain a 35% non-controlling interest as part of the transaction.

Khaitan & Co advised funds managed by American Industrial Partners in connection with their entry into definitive documents for the sale of MolyCop Group to Tega Industries in partnership with funds managed by Apollo Global Management for an EV value of approx USD 1.45 Billion. MolyCop is a leading global supplier of grinding media for the mining industry. 

Khaitan & Co advised Torrent Power Ltd (Torrent) on execution of definitive documents for the acquisition of 100% of the equity stake and convertible instruments of Nabha Power Ltd (NPL) from L&T Power Development Limited, a wholly owned subsidiary of Larsen & Toubro Limited, for an enterprise value of INR 6,889 crores.

Khaitan & Co advised Balaji Wafers Pvt Ltd and its promoters on the proposed strategic investment by General Atlantic in Balaji Wafers.

This transaction represents a strategic minority investment by General Atlantic in one of India’s leading home-grown packaged snacks platforms. 

Khaitan & Co Advised Grupo Antolin on the Indian law aspects of the sale of three Indian companies (Grupo Antolin India Pvt Ltd, Antolin Lighting India Pvt Ltd, and Grupo Antolin Chakan Pvt Ltd) to Shriram Pistons & Rings Ltd for ~EUR 159 million. 

The Firm provided end-to-end transaction support, including transaction structuring, documentation, negotiations, closing-related assistance, and regulatory advice.

Khaitan & Co acted as legal counsel to Reliance Consumer Products Ltd (RCPL), the FMCG arm of Reliance Industries Ltd, in connection with the acquisition of the 75-year-old legacy foods brand SIL from Sil Food India Pvt Ltd, and the subsequent relaunch of the brand.