Cyril Amarchand Mangaldas Advised ITC On The Proposed Acquisition Of Aditya Birla Real Estate’s Pulp And Paper Undertaking
Cyril Amarchand Mangaldas Advised ITC On The Proposed Acquisition Of Aditya Birla Real Estate’s Pulp And Paper Undertaking
Cyril Amarchand Mangaldas advised ITC on the proposed acquisition of the pulp and paper business undertaking of Aditya Birla Real Estate (formerly Century Textiles and Industries), which operates under the name Century Pulp & Paper (CPP). The acquisition includes all related assets, liabilities, contracts, and employees, as a going concern on a slump sale basis, through a Business Transfer Agreement.
ITC will acquire the CPP Business for a lump sum consideration of up to INR 3,500 crores on a cash-free, debt-free basis, payable upon closing, subject to adjustments set out in the agreement. The completion of the proposed acquisition is subject to requisite regulatory approvals, including from the Competition Commission of India (CCI).
The Cyril Amarchand Mangaldas team was led by Ramgovind Kuruppath (Partner), with support from Megha Krishnamurthi (Principal Associate), Pruthvi Jasani (Associate), and Rahil Mehta (Associate). The due diligence team was led by Ramgovind Kuruppath (Partner), with assistance from Megha Krishnamurthi (Principal Associate), Nayana Dasgupta (Principal Associate), Pruthvi Jasani (Associate), Rahil Mehta (Associate), Shrudula Murthy (Associate), and Bharat Harne (Associate). On real estate due diligence, the team was led by Ashish Jain (Partner), supported by Karan Sharma (Principal Associate), Shorya Choudhary (Senior Associate), Kartik Adlakha (Associate), and Bhawani Rajpurohit (Associate). On employment due diligence, the team was led by Bishen Jeswant (Partner), with support from Akash Mishra (PA Designate), Rachita Shah (Associate), and Jay Sharma (Associate). On competition law advisory, the team was led by Dhruv Rajain (Partner), assisted by Ananya Mahant (Associate), Amritesh Anand (Associate), and Rasmani Raghuwanshi (Associate).
