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Intertape Polymer Group, a leading listed manufacturer of packaging products and machinery, is acquiring the remaining 26% ownership stake in Powerband Industries Private Limited (Powerband) from the Desai Family at an enterprise value of US$40 million.
Majmudar & Partners acted as Indian legal counsel for Intertape Polymer Group and the team was led by Partner Rukshad Davar.
Pillsbury Winthrop Shaw Pittman LLP acted as US legal counsel.
Wadia Ghandy & Co. represented the Desai Family and the team was led by Partner Ashish Ahuja.
Pursuant to this transaction, Powerband is a wholly-owned subsidiary of Intertape Polymer Group. Powerband is a global supplier of acrylic adhesive-based carton sealing tapes and stretch films located in Daman, India.