Corporate & Commercial

Khaitan & Co acted as the legal counsel for the promoter of Shriram Finance Ltd, the Sanlam Group, in relation to the preferential issuance of USD 4.4 Billion to MUFG. 

Khaitan & Co advised Saregama India Ltd on its strategic investment in Bhansali Productions, founded by Sanjay Leela Bhansali, through the subscription to compulsory convertible preference shares for a consideration of INR 325 crores, including advice on the terms of conversion. As part of the transaction, the former will acquire ownership of all music rights created and produced by the latter.  

Khaitan & Co advised Gujarat Fluorochemicals Ltd (GFL) and its subsidiary, GFCL EV Products Ltd (GFCL EV), on an investment of ~USD 50 million from the International Finance Corporation (IFC) in GFCL EV. This marks IFC’s first investment in India’s battery-materials sector and supports the development of India’s first integrated battery materials manufacturing facility by GFCL EV.

The transaction is aimed at strengthening domestic manufacturing capabilities for advanced battery materials, and enhancing India’s position in the global battery-materials supply chain.

Khaitan & Co acted as legal advisors for responsAbility, a Europe-based private equity fund, FMO, a Netherlands based fund and Incofin Foundation, a Belgium based foundation in their acquisition of minority stake in Ace International Ltd (parent of Mahaan Milk Foods Ltd), a North India-based dairy products exporter as a part of equity funding round from impact investors to enhance its production and procurement capabilities.

Khaitan & Co advised the Wilmar Group on the acquisition of 13.00% in AWL Agri Business Ltd (formerly known as Adani Wilmar Ltd) held by Adani Group for a total consideration of USD 525.61 million. The firm advised on legal aspects of the transaction, negotiation and finalization of the transaction documentation.

Khaitan & Co advised PI Opportunities Fund - II in relation to its participation in the Series C fundraise of ~INR 350 crores by Dezerv Investments Pvt Ltd.

Khaitan & Co advised BirlaNu Ltd, a listed company of the CKA Birla Group, in relation to its 100% acquisition of the equity share capital of Clean Coats Pvt Ltd, for a cash consideration of up to INR 120,00,00,000 (Indian Rupees One Hundred and Twenty Crores). 

The Firm acted as the legal counsel to BirlaNu for the entire transaction and conducted a legal due diligence on Clean Coats and advised on the transaction documents including the share purchase agreement, completion and regulatory and listed company aspects.

Khaitan & Co advised Siemens Ltd in relation to the sale and transfer of the low voltage motors and geared motors businesses, including the related customer service operations of Siemens Ltd to Innomotics India Pvt Ltd, a global leading provider of electric motors and large drive systems, as a going concern by way of a slump sale, for a consideration               (enterprise value) of INR 2,200 crore, on a cash-free, debt-free basis, subject to mutually agreed adjustments. 

Khaitan & Co advised the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investors, on its investment in the KKR-backed education platform Lighthouse Learning Group (formerly EuroKids International). This investment was made alongside a related follow-on investment by KKR. 

The Firm supported PSP Investments on the transaction, including advising on the investment structure, conducting legal due diligence, and assisting with the transaction documentation.

Khaitan & Co advised India-based PB Healthcare Services Pvt Ltd, in relation to its acquisition of Noida-based Muskan Medical Centre Pvt Ltd (dba as Neo Hospital).