Turkish company Trakya Cam Sanayii AS has entered into a Joint Venture (JV) with the largest manufacturer of glass containers in India, Hindusthan National Glass and Industries (HGNIL) in the float glass manufacturing sector..Pursuant to the deal, Trakya Cam will be acquiring upto 45 per cent of the shareholding of HNG Float Glass, a company currently owned by HNGIL and Somany family..Amarchand Mangaldas advised Trakya Cam in relation to the proposed JV with a team led by Mumbai based Corporate Partners Aswath Rau and Vandana Pai Bharucha. Ahmedabad based Corporate Partner Pankaj Agarwal assisted the team on the title diligence..Erdem & Erdem Law Offices acted as Turkish counsel for Trakya Cam..Khaitan & Co advised HGNIL with a team led by Partner Aakash Choubey..Incorporated in 2006 and promoted by Somany famiily and Hindusthan National Glass, HNG Float Glass is engaged in the business of manufacturing float glass. The company’s plant is located in Halol, Gujarat with current capacity of furnace is 600 tonnes per day, reports Dealcurry.
Turkish company Trakya Cam Sanayii AS has entered into a Joint Venture (JV) with the largest manufacturer of glass containers in India, Hindusthan National Glass and Industries (HGNIL) in the float glass manufacturing sector..Pursuant to the deal, Trakya Cam will be acquiring upto 45 per cent of the shareholding of HNG Float Glass, a company currently owned by HNGIL and Somany family..Amarchand Mangaldas advised Trakya Cam in relation to the proposed JV with a team led by Mumbai based Corporate Partners Aswath Rau and Vandana Pai Bharucha. Ahmedabad based Corporate Partner Pankaj Agarwal assisted the team on the title diligence..Erdem & Erdem Law Offices acted as Turkish counsel for Trakya Cam..Khaitan & Co advised HGNIL with a team led by Partner Aakash Choubey..Incorporated in 2006 and promoted by Somany famiily and Hindusthan National Glass, HNG Float Glass is engaged in the business of manufacturing float glass. The company’s plant is located in Halol, Gujarat with current capacity of furnace is 600 tonnes per day, reports Dealcurry.