Khaitan, ILP lead on Grasim acquisition of Soktas for 165 crore

Birla group flagship Grasim Industries has acquired Soktas India from its Turkish promoters for Rs. 165 crore..Indian Law Partners (ILP), led by Partners Gopika Pant and Kanika Premnarayen, Senior Associate Abhimanyu Kaul and Associate Divakar Gupta, advised the Soktas Group..Khaitan & Co acted for Aditya Birla Group and the team was led by Partner Vineet Shingal, Senior Associate Niharika Mepani and Associates Rhea Jha and Aman Dwivedi. Grasim in-house legal team Shuba Karra and Dhrubajyoti Basu were leading the M & A and IPR related aspects of the deal..Soktas India will become a wholly owned subsidiary of Grasim after the completion of the transaction..Soktas is a wholly-owned subsidiary of the Turkish firm Soktas Tekstil Sanayi ve Ticaret, which produces and markets premium fabrics and has its main facilities at Soke in the Mediterranean country.