Cyril Amarchand Mangaldas (“CAM”) advised both Ambuja Cements Limited (“Ambuja”) and ACC Limited (“ACC”) on the proposed amalgamation of ACC with Ambuja by way of merger (“ACC Merger”). Ambuja and ACC are public listed companies, and both companies are engaged in the business of manufacturing and selling cement and cement related products. As the proposed ACC Merger will entail the issuance of equity shares by Ambuja to the shareholders of ACC and the shareholding of Ambuja in ACC will be cancelled, the proposed ACC Merger upon coming into effect, will result in change of the shareholding of Ambuja on account of the induction of ACC’s shareholders.
The transaction was done under the overall strategic guidance of Cyril Shroff (Managing Partner) and L. Viswanathan (Senior Partner).
The transaction team advising Ambuja was led by Ruetveij Pandya (Partner) and Nishikant Sao (Partner Designate), with support from Manjri Singh (Associate), Anoushka Ishwar (Associate) and Pratiti Shah (Associate).
The transaction team advising ACC was led by Jay Parikh (Partner) with support from Saranya Lal (Senior Associate) and Sarvagya Chitranshi (Associate). Abhilash Pillai (Partner) with support from Kripa Sankari (Principal Associate) provided inputs from a real estate perspective on the transaction, and Sowmya Kumar (Partner) with support from Luv Saggi (Principal Associate) advised on employment related aspects of the transaction.
Additionally, CAM also advised the clients on various matters relating to the transaction, which was led by Paridhi Adani (Partner, Head-Ahmedabad) along with Ramanuj Kumar (Partner, Co-Head – Projects (Energy & Energy Transition)), Swati Sharma (Partner, Head – Intellectual Property), Karan Sharma (Partner) and Jaideep Kodali (Partner) with support from Sandeep Pandey (Principal Associate), Siddhant Sharma (Principal Associate), Pauravi Kolhe (Associate), Smitanshu Choudhary (Associate), Harshit Upadhyay (Associate), Astha Krishna (Associate) and Abhigyaan AH (Associate).
The competition law advisory team was led by Avaantika Kakkar (Partner, Head – Competition Law), with support from Mohini Parghi (Associate) and Pushkar Singh (Associate).