Safex UK Holdings Limited, a wholly owned subsidiary of Safex Chemicals (India) Ltd, has acquired UK-based Briar Chemicals for approximately ₹727.8 crores (£73 million) from pan-European alternative investment firm AURELIUS Equity Opportunities.
Safex is backed by private equity firm ChrysCapital which owns a significant minority stake in the business and made an investment into Safex for funding the Briar Acquisition.
Stratage Law Partners advised Safex in this acquisition and performed the following roles:
Advised Safex India from an Indian law perspective on Facility Arrangement for funding the Briar Acquisition, including reviewing the facility agreement and assisting Safex India Team with compliance of conditions precedent and subsequent under the same.
Advised Safex India on Chrys Capital’s investment into the Company for funding the Briar Acquisition, including drafting, negotiating, reviewing, and revising the transaction document.
Advised Safex India on further investment by its Promoters into the Company for funding the Briar Acquisition, including drafting, negotiating, reviewing, and revising the transaction document.
Advised Safex India on a loan in GBP provided by it to Safex UK for funding the Briar Acquisition, including the review and negotiations on the loan agreement.
The transaction team consisted of Darshan Upadhyay (Partner), Bhavin Gada (Partner), Sharan Sanil (Senior Associate) and Vishakha Dube (Associate).
J Sagar and Associates acted as Axis Trustee Services Limited’s British counsel on the Facility Agreement.
Cyril Amarchand Mangaldas advised Chrys Capital for further equity investment into Safex India.
Bird & Bird acted as Safex India’s British counsel for the Briar Acquisition and Facility Arrangement.
Allen & Overy acted as Standard Chartered Bank’s British counsel for the Facility Arrangement.
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