JSA advised and assisted Del Monte Pacific and other entities within the Del Monte group in a share swap transaction between Agro Tech Foods Limited (“ATFL”), Del Monte Pacific, and Bharti Enterprises, the existing shareholders of Del Monte Foods Private Limited.
The transaction involves ATFL issuing corresponding shares through a preferential allotment to various Bharti entities and Del Monte Pacific, in exchange for their respective shares in Del Monte Foods Private Limited.
Following the transaction, Del Monte Pacific will continue to license the “Del Monte” trademark to Del Monte Foods Private Limited. The deal is subject to regulatory approvals, including clearance from the Competition Commission of India. Upon completion of the transaction, Del Monte will become a wholly-owned subsidiary of ATFL.
Del Monte Foods supplies processed food and beverage products in India and other South Asian countries. Its product range includes Italian foods, dips and spreads, ketchup and sauces, dried and packaged fruits, and beverages.
The transaction team at JSA included:
Lead Partner – Shivpriya Nanda
Partner – Zain Pandit
Senior Associate – Nancy Neekhra
Associates – Harshita Kapoor, Treya Gupta, Ananya Mathew, and Vibhu Choubey
The Competition Law team at JSA included:
Partners – Vaibhav Choukse, Ela Bali
Senior Associate – Nripi Jolly
The Tax team comprised of – Partner Kumarmangalam Vijay
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