Mangalore Chemicals & Fertilisers Ltd is merging with and into Paradeep Phosphates Ltd in accordance with a proposed composite scheme of arrangement.

The composite scheme of arrangement also contemplates a transfer of shares of Mangalore Chemicals & Fertilizers from Zuari Agro Chemicals Limited to Zuari Maroc Phosphates Private Limited as an integral part of the scheme of arrangement.

Shardul Amarchand Mangaldas & Co is advising on this merger.

The transaction team consisted of Shardul S Shroff (Executive Chairman), Gunjan Shah (Partner), Karun Prakash (Partner), Sangamitra Sankaraiah (Partner), Amrusha Monga (Associate) and Ruthvik Tumuluri (Associate).

The Competition Team is led by Rohan Arora (Partner), Aman Singh Sethi (Partner), Sakshi Agarwal (Associate) and Ritesh Puri (Associate).

AZB & Partners advised OCP Group, Morocco (indirect shareholder of Paradeep Phosphates Limited) on the legal aspects.

Pricewaterhouse Coopers Private Limited acted as the financial advisors.

The proposed combined entity will become one of the largest integrated private-sector fertilizer companies in India, with a total manufacturing capacity of ~3.6 MMTPA.

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