Rentokil Initial plc (Rentokil) has announced that it has entered into an agreement to form a joint venture with India’s PCI Pest Control Pvt. Ltd. (PCI) and to acquire a 57% stake in the new joint venture, for an undisclosed sum..Deal Acquisition of 57% of the shareholding of the PCI by RentoKilValueIn excess of $50 millionSectorChemicals and Pesticides – manufacture and servicesDeal TypeM&ALaw FirmsAZB & Partners – Rentokil; Shardul Amarchand Mangaldas – PCIHeads/Partners AZB – Rishi Gautam; SAM – Jay Gandhi.AZB &Partners advised the Rentokil on this transaction through a team led by Partner Rishi Gautam along with Senior Associate Manan Mehta..Shardul Amarchand Mangaldas were the advisors to the Target – PCI. The team was led by Partner Jay Gandhi and included Principal Associates Kunal Mehta and Arun Jerome, Senior Associate Abhishek Parekh, and Associate Rayan Azmi..As part of the transaction, which is expected to complete in March, the existing PCI business’ manufacturing facilities are being retained by the sellers and the Company has entered into an exclusive agreement to market their key pest control products in India and export them to other Emerging markets. The agreement also provides the opportunity to jointly develop new innovative products.
Rentokil Initial plc (Rentokil) has announced that it has entered into an agreement to form a joint venture with India’s PCI Pest Control Pvt. Ltd. (PCI) and to acquire a 57% stake in the new joint venture, for an undisclosed sum..Deal Acquisition of 57% of the shareholding of the PCI by RentoKilValueIn excess of $50 millionSectorChemicals and Pesticides – manufacture and servicesDeal TypeM&ALaw FirmsAZB & Partners – Rentokil; Shardul Amarchand Mangaldas – PCIHeads/Partners AZB – Rishi Gautam; SAM – Jay Gandhi.AZB &Partners advised the Rentokil on this transaction through a team led by Partner Rishi Gautam along with Senior Associate Manan Mehta..Shardul Amarchand Mangaldas were the advisors to the Target – PCI. The team was led by Partner Jay Gandhi and included Principal Associates Kunal Mehta and Arun Jerome, Senior Associate Abhishek Parekh, and Associate Rayan Azmi..As part of the transaction, which is expected to complete in March, the existing PCI business’ manufacturing facilities are being retained by the sellers and the Company has entered into an exclusive agreement to market their key pest control products in India and export them to other Emerging markets. The agreement also provides the opportunity to jointly develop new innovative products.