Cyril Amarchand Mangaldas and HEUSSEN Studio Legale e Tributario advised Lati Industria Termoplastici S.p.A. (“LATI”), a leading European manufacturer of engineering thermoplastics on a joint venture with Loxim Industries Limited.
The transaction included the acquisition of the engineering plastic compounds division of Loxim Industries by LATI through Lati-Loxim Thermoplastics Private Limited, a joint venture company by LATI (51%) the key promoters of Loxim (49%) by way of business transfer on a slump sale basis, and an investment by LATI in the JV to fund the acquisition of the engineering thermoplastics of Loxim.
The CAM transaction team was led by Alok Sonkar, Partner; with the support from Karishma Jumani, Director - Corporate Transactions; Utkarsh Mankad, Senior Associate; Akansha Menghrajani, Associate; Khushboo Bapna, Associate; Ishita Sharma, Associate; and Aayush Panwar, Associate.
Siddharth Singh, Partner; with the support from Rushi Panchal, Associate; assisted on the real estate law aspects of the transaction.
LATI Industria Termoplastici S.p.A. is an independent European compounder leading the way in hi-tech thermoplastics. The company offers more than 2500 fit-for-use materials with new tailor made compounds being released frequently.
Established in 1977, Loxim Industries is a Ahmedabad-based company involved in manufacturing, specializing in a range of products including textile and non-textile dyes, polymer products, dyestuffs, engineering plastics, and PET granules.
The Joint Venture Company will combine LATI's technological know-how, as a European leader in high-performance technopolymers, with LOXIM's strong local presence, well-established position in the automotive and electrical markets, and extensive business network across India. LOXIM operates with an annual production capacity of 20,000 tons and has a prominent presence in the industrial district of Sanand (Gujarat).
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