Pigments Spain S.L., a part of the Altadia Group, owned by The Carlyle Group has acquired a majority controlling stake in Nahar Colours and Coating Private Limited.

Shardul Amarchand Mangaldas & Co advised Pigments Spain S.L. and The Carlyle Group on this transaction.

Apart from transaction and due diligence teams, the real estate and infrastructure teams also advised the companies.

The transaction and the due diligence teams were led by Abhishek Guha (Partner), Tanya Uppal (Partner) with Mukul Baveja (Partner), who worked exclusively on due diligence. Other lawyers involved in both transaction and due diligence include Amrita Ghosh (Senior Associate) and Akanksha Khare (Senior Associate). Madhur Chopra (Principal Associate), Chayanika Goyal (Senior Associate) and Srijan Srivastava (Associate) worked exclusively on due diligence.

Radhika Dudhat (Partner), Bhoumick Vaidya (Partner), Rachna Bagri (Counsel), Harshini Kotecha (Senior Associate) and Vidhi Maniar Sanghavi (Senior Associate), advised on real estate related aspects.

V.R. Neelakantan (Partner), Dnyanraj Desai (Partner), Shubham Sharma (Senior Associate), Priyanka Sheth (Counsel), Dhwani Manish Baxi (Associate)  advised on certain infrastructure related aspects.

Khaitan & Co advised Nahar Colours and Coating Private Limited on the legal aspects.

Latham & Watkins and PricewaterhouseCoopers advised Pigments Spain S. L. on tax and valuation related matters. 

Carlyle has used a series of Indian law firms in its deal making. Previously Trilegal advised Carlyle in the Quest Global transaction.

Headquartered in Castellon, Spain, Altadia Group is owned by The Carlyle Group and is one of the largest global manufacturers of intermediate products for the production of ceramic tiles.

This strategic acquisition strengthens Pigments Spain S.L.’s position in the Indian and Asia-Pacific markets, helping the Altadia Group expand its footprint in the global ceramics industry.

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