Veritas, AZB lead on Lotte’s acquisition of Havmor Ice Cream for 1,020 crore

South Korea’s Lotte Confectionery has acquired Ahmedabad-headquartered ice cream maker Havmor Ice Cream for Rs. 1,020 crore in an all-stock deal.

Veritas Legal acted for Havmor Ice Cream with a team led by Partners Abhijit Joshi and Tushar Raut along with Senior Associate Natasha Sethna and Associate Tejasvi Saxena.

AZB & Partners advised Lotte Confectionary and the team was led by Partners Alka Nalavadi and Nilanjana Singh along with Senior Associate Qais Jamal and Associate Ramya Mahidhara.

This move marks the entry of the $80-billion food major into the Indian ice cream market, reported HinduBusinessline.

Image taken from here.