Trilegal, Khaitan, AZB, Allen & Overy and Linklaters act on Hassan Food’s acquisition of 51% stake in Bush Foods

Qatar-based Hassad Food Co, has picked up 51% stake in Delhi-based Bush Foods Overseas Pvt. Ltd, a branded processed Foods Company, which operates in the basmati rice and ready to eat foods category for $145 million (Rs. 780 crore)..Hassad Food’s investment in Bush Foods will make an exit route for its private equity backer—Standard Chartered Private Equity, the PE arm of Standard Chartered Bank..Trilegal acted as Indian legal counsel for Hassad Food with a team led by Partner Delano Furtado along with Counsel Nidhi Khadria, Senior Associate Naresh Pareek and Associate Priyasha Corrie..Allen & Overy acted as International legal counsel for Hassad Food..Khaitan & Co advised Bush Foods and the promoters with a team led by Delhi Partner Rajat Mukherjee. Executive Director, Arshad (Paku) Khan and Partner Manas Chaudhuri advised on the competition law aspect..AZB & Partners acted as domestic legal counsel for Standard Chartered Private Equity while Linklaters acted as International legal counsel..QInvest and Ambit acted as financial advisors to Hassad Food and KPMG Corporate Finance was the advisor to the promoter of Bush Foods..Bush Foods was founded in 1992 by Virkaran Awasty and currently has revenues of $235 million (Rs 1,275 crore). Hassad Food, established in 2008, is owned by sovereign wealth fund Qatar Investment Authority that has a corpus of $1 billion to make agricultural investments..The current deal is one of the rare instances of a profitable private equity exit through a strategic deal, especially in the foods and agriculture space, reports VCCircle.