Del Monte Pacific and Bharti Enterprises, the existing shareholders of Del Monte Foods Private Limited, have entered into a share swap transaction between Agro Tech Foods Limited.
Post consummation of the transaction, Del Monte will become a wholly-owned subsidiary of ATFL.
The transaction contemplates ATFL issuing corresponding shares via preferential issue to various Bharti entities and Del Monte Pacific, as consideration for the sale of their respective shares in Del Monte Foods Private Limited. Del Monte Pacific will continue to license the trademark ‘Del Monte’ to Del Monte Foods Private Limited.
JSA advised and assisted Del Monte Pacific and other Del Monte group entities on this transaction.
The transaction team consisted of Shivpriya Nanda (Lead Partner), Zain Pandit (Partner), Nancy Neekhra (Senior Associate), Harshita Kapoor (Associate), Treya Gupta (Associate), Ananya Mathew (Associate) and Vibhu Choubey (Associate). They were supported by:
Competition team: Vaibhav Choukse (Partner), Ela Bali (Partner), Nripi Jolly (Senior Associate)
Tax team: Kumarmanglam Vijay (Partner)
IndusLaw advised Agro Tech Foods on this transaction.
The IndusLaw team consisted of the following:
Legal DD and Transaction: Minhaz Lokhandwala (Partner), Riya Gupta (Senior Associate), Nishi Bharatiya (Senior Associate), Spandan Saxena (Senior Associate), Riddhi Upadhyay (Senior Associate), Mansi Avashia (Associate), Atishay Jain (Associate), Ayush Mehta (Associate), Jacob Abraham (Associate) and Saket Mishra (Associate).
Competition Law: Unnati Agrawal (Partner), Nikita Agarwal (Principal Associate), Swapnil Singh Shekhawat (Associate) and Hrishav Kumar (Associate).
Corporate Secretarial Due Diligence: Ruhi Jain (Director) and Adarsh Joshi (Senior Executive)
AZB & Partners represented Del Monte shareholder Bharti Enterprises on this transaction.
Del Monte Foods supplies processed food and beverage products in India and some South Asian countries. Its products include Italian, dips and spreads, ketchup and sauces, dried and packaged fruits, and beverages.
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