Solar Industries India Limited is set to acquire the entire business undertaking of Rajasthan Explosives and Chemicals Limited (RECL) by a wholly owned subsidiary (WOS) of Solar Industries India for an undisclosed amount.

Pioneer Legal assisted Solar Industries India in the following manner:

• The Firm advised and assisted Solar Industries India in formulating the structure in relation to acquisition of the entire business undertaking of RECL by WoS.

• The Firm conducted the legal due diligence of RECL.

• The Firm drafted, reviewed, negotiated and finalised the transaction documents.

• The Firm is also advising and assisting the WoS on other commercial issues and closing related aspects of the transaction.

The transaction team consisted of Narendra Dingankar (Partner), Suraj Soni (Senior Associate) and Shreya Gokhale (Associate).

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