SAM, Khaitan lead on Emami Group cement biz sale to Nirma arm for 5,500 crore

Kolkata-based Emami Group has entered into an agreement with a Nirma group arm - Nuvoco Vistas Corporation Ltd - for the sale of its cement business, Emami Cement Ltd, for an enterprise value of Rs. 5,500 crore.

Shardul Amarchand Mangalas & Co advised Emami Group and the team was led by Partner Sakshi Mehra, along with Principal Associate Shiladitya Banerjee, Senior Associate Pragya Seth, and Associate Rohan Singh.

Due diligence team included Shiladitya Banerjee, Pragya Seth, Garima Tyagi, Rohan Singh, Rooha Khurshid, Siddharth Chauhan.

Partner Aparna Mehra advised on Competition law aspects.

Senior Associates Apoorva Murali and Leoni Mahanta advised on IP law aspects.

Khaitan & Co Nuvoco Vistas and Nirma group and the team was led by Partners Haigreve Khaitan, Mehul Shah and Ashraya Rao along with Principal Associate Niharika Mepani, Senior Associate Suditi Surana and Associate Murugaveni Pillai.

Other aspects of the transaction were assisted by the following members:

1. Competition law aspects: Partner Anisha Chand, Senior Associate Soham Banerjee and Associate Vasudhaa Ahuja (Associate);

2. Mining law aspects: Partner Shivanshu Thaplyal.

The diligence team comprised of Divakar Gupta (Associate), Ruturaj Jere (Associate), Shraddha Desai (Associate), Chitra Jha (Associate), Noyonika Nair (Associate) with assistance from:

• Real estate aspects: Devendra Deshmukh (Partner), Rishabh Vora (Senior Associate), Rohan Shah (Associate) and Aishwarya Wadhavkar (Associate)

• Employment law aspects: Anshul Prakash (Partner), Deepak Kumar (Principal Associate), Prachi Vijay (Associate), Kosheel Gupta (Associate)

• Mining law aspects: Abhijit Mukherjee (Senior Associate), Bhagirath Ashiya (Associate) and Sarat Chandra (Associate)

• Intellectual property law aspects: Shailendra Bhandare (Partner) and Sourav Dan (Senior Associate)

• Indirect tax aspects: Dinesh Agarwal (Partner), Pranay Sahay (Senior Associate)

• Litigation aspects: Peshwan Jehangir (Partner) and Jaideep Singh Khattar (Principal Associate)

Emami Cement operates one integrated cement plant and three grinding units with a total cement grinding capacity of around 8.3 million tonnes per annum, reported Mint.

Image taken from here.