The Caravel Group has acquired a leading Indian sailors’ academy, the International Maritime Institute (IMI), for an undisclosed amount.
Trilegal advised Harry S Banga and Angad Banga of The Caravel Group on this acquisition.
The transaction team was led by Yogesh Singh (Partner, Head of Corporate), Abhishek Dubey (Partner) and Adhunika Premkumar (Partner), with assistance from Amit Nain (Senior Associate), Prarthna Bathija (Senior Associate) and Harshit Goyal (Associate).
The real estate and employment teams of Trilegal also provided support.
Bharucha & Partners advised the International Maritime Institute and the sellers, viz., the Bahl, Bhalla and Kohli family groups.
The Caravel Group is a diversified conglomerate headquartered in Hong Kong SAR with three verticals: Maritime, Commodities and Investment Management. Within the Maritime vertical, the Group is focused on third-party ship management, and as well ship ownership – managing, operating and/or owning more than 700 sea-going vessels across the dry bulk, chemical and gas tanker and container segments.
The International Maritime Institute (IMI) is a prominent marine engineering college located in Greater Noida, Uttar Pradesh, India. Established in 1991, it has become a key institution for maritime education in the region.
If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.