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UltraTech Cement Ltd, part of the Aditya Birla group, is acquiring the cement business of BK Birla group’s Century Textiles and Industries Ltd in an all-stock transaction.
Khaitan & Co acted for Ultratech and the team was led by Senior Partner Haigreve Khaitan along with Partner Mehul Shah, Principal Associate Saswat Subasit, Senior Associate Sanket Shah and Associate D. Preethika with assistance from Senior Associates Ritwik Kulkarni and Aman Yagnik on scheme related aspects and Associate Partner Shivanshu Thaplyal and Associate Harshita Khurana on infrastructure, mining and other regulatory aspects
Trilegal is advising Ultratech on competition law aspect and the team is led by Partner and Head of Competition Law – Nisha Kaur Uberoi along with Partner Soumya Hariharan, Senior Associate Atreyee Sarkar and Associates Ankita Gulati, Saksham Dhingra, Mathew George and Nandini Pahari.
Vaish Associates is acting for Century and the team was led by Senior Partner Bomi Daruwala along with Associate Partner Amitjivan Joshi.
The enterprise value of Century’s cement business is pegged at Rs. 8,561 crores and UltraTech will absorb debt of Rs. 3,000 crore.