Spain’s Tubacex SA has acquired a 68 per cent stake in the seamless stainless steel tubes division of Indian metal products maker Prakash Steelage for Rs. 254 crore ($40 million)..Bharucha & Partners advised Prakash Steelage with a team led by Partners Justin Bharucha and Vishnu Dutt along with Senior Associate Donnie George and Associates Ajai Achuthan and Priya Makhijani..Amarchand Mangaldas Mumbai acted as domestic legal counsel for Tubacex with a team led by Partner Tushar Mavani..Spanish firm GBP Legal advised Tubacex with Partner José Ramón Berecíbar..As part of the deal, the seamless stainless steel tubes unit of the Indian firm will be transferred to a new company in which the foreign partner will acquire a majority stake, reports VCCircle.
Spain’s Tubacex SA has acquired a 68 per cent stake in the seamless stainless steel tubes division of Indian metal products maker Prakash Steelage for Rs. 254 crore ($40 million)..Bharucha & Partners advised Prakash Steelage with a team led by Partners Justin Bharucha and Vishnu Dutt along with Senior Associate Donnie George and Associates Ajai Achuthan and Priya Makhijani..Amarchand Mangaldas Mumbai acted as domestic legal counsel for Tubacex with a team led by Partner Tushar Mavani..Spanish firm GBP Legal advised Tubacex with Partner José Ramón Berecíbar..As part of the deal, the seamless stainless steel tubes unit of the Indian firm will be transferred to a new company in which the foreign partner will acquire a majority stake, reports VCCircle.