A leading manufacturer of glass in India, Saint-Gobain Glass India Limited has acquired the float glass business of Mumbai-based Sezal Glass Limited by way of slump sale for Rs. 686 crore ($ 153 million)..J. Sagar Associates advised Saint-Gobain with a team led by Partners Sandeep Mehta and Jay Gandhi along with Associates Swati Mandava, Sugandha Asthana, Kunal Kaul, Kunal Mehta, Shaswata Dutta and Rishabh Gupta..Rajani Associates advised Sezal Glass with a team led by Managing Partner Prem Rajani along with Partner Reena Grover and Associate Alok Sonker..ET reports, Sezal Glass and its principal promoters will not enter the float glass business in India for five years as per the non-compete agreement with Saint-Gobain..The float glass facility, located in the Jhagadia Industrial Estate in Gujarat, has a capacity to produce 550 million tonnes of glass a day..Sezal would use the sale proceeds for clearing all the bank debts, first. The balance would be used for expanding its existing value-added glass business, as well as venturing into new and related businesses through both organic and inorganic routes.
A leading manufacturer of glass in India, Saint-Gobain Glass India Limited has acquired the float glass business of Mumbai-based Sezal Glass Limited by way of slump sale for Rs. 686 crore ($ 153 million)..J. Sagar Associates advised Saint-Gobain with a team led by Partners Sandeep Mehta and Jay Gandhi along with Associates Swati Mandava, Sugandha Asthana, Kunal Kaul, Kunal Mehta, Shaswata Dutta and Rishabh Gupta..Rajani Associates advised Sezal Glass with a team led by Managing Partner Prem Rajani along with Partner Reena Grover and Associate Alok Sonker..ET reports, Sezal Glass and its principal promoters will not enter the float glass business in India for five years as per the non-compete agreement with Saint-Gobain..The float glass facility, located in the Jhagadia Industrial Estate in Gujarat, has a capacity to produce 550 million tonnes of glass a day..Sezal would use the sale proceeds for clearing all the bank debts, first. The balance would be used for expanding its existing value-added glass business, as well as venturing into new and related businesses through both organic and inorganic routes.
