China based plastic manufacturer Kingfa Sci. Tech. Co. Ltd. (Kingfa) has acquired 66% stake in Hydro S&S Industries Limited (Hydro S&S)..Desai & Diwanji advised the promoters of Hydro S&S with a team led by Partner Madhavan Srivatsan along with Associate Nitya Chadha..Singhania & Partners acted as the Indian Counsel for Kingfa with a team led by Partner Manish Sharma along with Senior Associate Shradha Dubey..Beijing based Yingke Law Firm acted as the foreign legal counsel for Kingfa with a team led by Senior Partner Datuo Shi..According to VCCCircle, the shares were acquired for Rs. 10.65 crore ($1.94 million). The report also states that Kingfa has filed for an open offer to acquire 16,65,874 more equity shares from public shareholders of Hydro S&S. If the open offer is successful, Kingfa will come to hold 92.5% stake in Hydro S&S..Image taken from here
China based plastic manufacturer Kingfa Sci. Tech. Co. Ltd. (Kingfa) has acquired 66% stake in Hydro S&S Industries Limited (Hydro S&S)..Desai & Diwanji advised the promoters of Hydro S&S with a team led by Partner Madhavan Srivatsan along with Associate Nitya Chadha..Singhania & Partners acted as the Indian Counsel for Kingfa with a team led by Partner Manish Sharma along with Senior Associate Shradha Dubey..Beijing based Yingke Law Firm acted as the foreign legal counsel for Kingfa with a team led by Senior Partner Datuo Shi..According to VCCCircle, the shares were acquired for Rs. 10.65 crore ($1.94 million). The report also states that Kingfa has filed for an open offer to acquire 16,65,874 more equity shares from public shareholders of Hydro S&S. If the open offer is successful, Kingfa will come to hold 92.5% stake in Hydro S&S..Image taken from here
