{"id":272400,"date":"2022-08-27T09:30:32","date_gmt":"2022-08-27T04:00:32","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=272400"},"modified":"2022-08-27T09:30:32","modified_gmt":"2022-08-27T04:00:32","slug":"khaitan-co-advises-retail-holdings-india-b-v-in-relation-to-the-sale-of-22-34-stake-in-singer-india-limited","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/08\/27\/khaitan-co-advises-retail-holdings-india-b-v-in-relation-to-the-sale-of-22-34-stake-in-singer-india-limited\/","title":{"rendered":"Khaitan &#038; Co advises Retail Holdings (India) B.V. in relation to the sale of 22.34% stake in Singer India Limited"},"content":{"rendered":"<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"text-indent: 18pt;\">\n<p style=\"text-align: center;\">DEAL DETAILS<\/p>\n<table style=\"border-collapse: collapse;\">\n<colgroup>\n<col width=\"675\" \/> <\/colgroup>\n<tbody>\n<tr>\n<td style=\"background-color: #d3d3d3; border: 1px solid black; vertical-align: top;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-indent: 18pt; margin-bottom: 3%;\">Retail Holdings (India) B.V. | Sale of 22.34% stake in Singer India Limited<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"border: 1px solid black; border-collapse: collapse;\">\n<colgroup>\n<col width=\"36\" \/>\n<col width=\"256\" \/>\n<col width=\"384\" \/> <\/colgroup>\n<thead>\n<tr>\n<td style=\"background-color: #d9d9d9; border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">#<\/p>\n<\/td>\n<td style=\"background-color: #d9d9d9; border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">HEADINGS<\/p>\n<\/td>\n<td style=\"background-color: #d9d9d9; border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-indent: 18pt; margin-bottom: 3%;\">DETAILS<\/p>\n<\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">1.<\/p>\n<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Sector<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Consumer Durables; SUBSECTOR \u2014 Electrical Appliances<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">2.<\/p>\n<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Announcement Date<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">15 August 2022<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">3.<\/p>\n<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Completion Date<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">16 August 2022<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">4.<\/p>\n<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Name of Client<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Retail Holdings (India) B.V.<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">5.<\/p>\n<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Bidder, Bidder Country<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">NA<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">6.<\/p>\n<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Bidder Description<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">NA<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">7.<\/p>\n<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Target, Target Country<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Singer India Limited India<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">8.<\/p>\n<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Target Description<\/td>\n<td style=\"border: 1px solid black; text-align: justify;\" colspan=\"1\" valign=\"top\">Singer India Limited is engaged in the business of manufacturing and selling sewing machines, sewing machine heads, sewing machine needles, domestic electric appliances, domestic electrothermic appliances and domestic non-electric cooking and heating equipment.<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">9.<\/p>\n<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Deal Description<\/td>\n<td style=\"border: 1px solid black; text-align: justify;\" colspan=\"1\" valign=\"top\">Advised Retail Holdings (India) B.V. in relation to the sale of 22.34% stake in Singer India Limited via the on-market bulk trade mechanism to a group of investors which included Rare Investments, PGA Securities Private Limited, Insurexcellence Advisors Private Limited and TIA Advisors LLP.<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">10.<\/p>\n<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Total Consideration<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Approx. INR 64 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">11.<\/p>\n<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Turnover of Target if Deal Value Undisclosed<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">NA<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">12.<\/p>\n<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Team Members<\/td>\n<td style=\"border: 1px solid black; text-align: justify;\" colspan=\"1\" valign=\"top\">The core transaction team consisted of Pashupati Nath (Partner), Arjun Bhagi (Principal Associate), Tanima Tandon (Principal Associate), Shivansh Mehta (Associate) and Prachi Tripathi (Associate). Sudhir Bassi (Executive Director) and Shashank Patil (Principal Associate) assisted on select securities law aspects. Indruj Rai (Partner) and Sarthak Parnami (Senior Associate) assisted on select taxation law aspects.<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">13.<\/p>\n<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Role of Firm<\/td>\n<td style=\"border: 1px solid black; text-align: justify;\" colspan=\"1\" valign=\"top\">Advised Retail Holdings (India) B.V. in relation to the sale of 22.34% stake in Singer India Limited via the on-market bulk trade mechanism to a group of investors which included Rare Investments, PGA Securities Private Limited, Insurexcellence Advisors Private Limited and TIA Advisors LLP. The scope of assistance included structuring and implementation of the transaction.<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">14.<\/p>\n<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Financial Advisors<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">NA<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">\n<p style=\"text-align: center;\">15.<\/p>\n<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Other legal advisors if any with names of Lead Lawyers<\/td>\n<td style=\"border: 1px solid black;\" colspan=\"1\" valign=\"top\">Parinam Law Associates (Mr Ravichandra Hegde)<br \/>\nCapex Legal (Ms Malini Sud)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>DEAL DETAILS Retail Holdings (India) B.V. | Sale of 22.34% stake in Singer India Limited # HEADINGS DETAILS 1. Sector Consumer Durables; <\/p>\n","protected":false},"author":8808,"featured_media":272405,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45282,2],"tags":[51234,51235],"class_list":["post-272400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-law-firms-news","category-news","tag-external-final","tag-singer-india-limited"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Khaitan &amp; Co advises Retail Holdings (India) B.V. in relation to the sale of 22.34% stake in Singer India Limited | SCC Times<\/title>\n<meta name=\"description\" content=\"Khaitan &amp; Co advises Retail Holdings (India) B.V. in relation to the sale of 22.34% stake in Singer India Limited\" \/>\n<meta name=\"robots\" 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The proposed combination envisages acquisition of approximately 9.99% stake in Jio Platforms Limited (Jio Platforms)by Jaadhu Holdings\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2016\/10\/Competition-Commission.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/272400","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=272400"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/272400\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/272405"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=272400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=272400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=272400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}