Khaitan & Co Advised Italian-Thai Development Public Company On Proposed Sale Of Shares To Renew EXIM DMCC
Khaitan & Co advised Italian-Thai Development Public Company Ltd. on its significant stake sale of 46.64% in ITD Cementation to Renew EXIM DMCC, Adani Group’s Dubai-based subsidiary, in a deal valued at approximately ₹5,758 crores.
Khaitan & Co Advised Italian-Thai Development Public Company on Proposed Sale of Shares to Renew EXIM DMCC
Khaitan & Co advised Italian-Thai Development Public Company Limited ("ITD"), the promoter of ITD Cementation India Limited, on its proposed sale of a 46.64% stake to Renew EXIM DMCC, a subsidiary of the Adani Group, for approximately ₹5,758 crores. Renew EXIM DMCC, based in Dubai, is owned by Valiant Investment DMCC. ITD Cementation is a leading EPC company specializing in maritime structures and urban infrastructure, including airports, mass rapid transit systems, highways, bridges, dams, and tunnels.
The Khaitan & Co core team was led by Partner Abhishek Dadoo and included Principal Associates Anvita Mishra and Tanima Tandon, Senior Associate Aayush Agarwal, and Associates Gaurang Mansinghka and Krithika Kataria. Additional support was provided by Partners Bharat Anand and Aditya Patni (Strategic), Partner Pranjal Prateek (Competition Law), Counsel Gaurav Malhotra (Securities Law), Partner Dr. Siddharth Srivastava and Counsel Henna Vadhera (Banking Law), and Partner Ritu Shaktawat (Tax Law).