Khaitan advises UltraTech Cement on majority stake acquisition in The India Cements

UltraTech Cement Limited has struck a deal with N Srinivasan and his family to acquire a majority stake in The India Cements Limited.

As per the release, Ultratech will pay ₹3,954 crore at ₹390/share to buy 32.72 per cent stake in India Cements from the promoters and their associates.

Khaitan & Co advised and assisted UltraTech Cement on structuring the transaction, preparing transaction documents and mandatory tender offer.

The transaction team consisted of Haigreve Khaitan (Senior Partner), Abhishek Dadoo (Partner), Niren Patel (Partner), Shashank Patil (Counsel), Jayantika Khanna (Principal Associate), Aman Bagaria (Senior Associate) and Vritika Lakhwani (Associate).

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