Cyril Amarchand Mangaldas (“CAM”) advised Ambuja Cements Limited (“Ambuja”) and Orient Cement Limited (“Orient”) on the proposed amalgamation of Orient with Ambuja by way of merger (“Orient Merger”). Ambuja and Orient are public listed companies, and both companies are engaged in the business of manufacturing and selling cement and cement related products. As the proposed Orient Merger will entail the issuance of equity shares by Ambuja to the shareholders of Orient and the shareholding of Ambuja in Orient will be cancelled, the proposed Orient Merger upon coming into effect, will result in change of the shareholding of Ambuja on account of induction of Orient’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 Orient was led by Molla Hasan (Partner) with assistance from Sameer Seshadri (Associate) and Shailja Beria (Associate).
Additionally, we also advised the clients on various matters relating to the transaction, which was led by Paridhi Adani (Partner, Head-Ahmedabad), along with Jinal Mehta (Partner) and Jaideep Kodali (Partner) with support from Gaurav Utagikar (Senior Associate), Pauravi Kolhe (Associate) and Smitanshu Choudhary (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).