Indorama Ventures has acquired the chemicals and surfactants business of Huntsman International (India) Private Limited including the plant located at Ankleshwar, Gujarat by way of a slump sale on a going concern basis.
Chandhiok & Mahajan acted for Indorama Ventures and the team was led by Managing Partner Pooja Mahajan, along with Partner Kaushalya Venkataraman, Senior Associate Megha Pathak and Associate Jagrat Rawal.
C&M’s head of antitrust, Karan Chandhiok, advised on the competition law aspects of the transaction.
AZB & Partners advised Huntsman and the team was led by Partner Nilanjana Singh.
The value of the deal was approximately INR equivalent of USD 24.3 million. With this transaction, Indorama completed its. USD 2.1 billion acquisition Huntsman’s chemical intermediates business in the US, Australia, and India.