The acquisition enhances the Altadia Group’s presence in the Indian and Asia-Pacific ceramic tile markets.
Pigments Spain S.L., a subsidiary of the Altadia Group and part of The Carlyle Group, has successfully acquired a majority controlling stake in Nahar Colours and Coating Private Limited.
This strategic acquisition further bolsters Pigments Spain’s position in the Indian and Asia-Pacific markets, enabling the Altadia Group to expand its reach within the global ceramics industry.
Shardul Amarchand Mangaldas & Co played a key role in advising Pigments Spain S.L. and The Carlyle Group on the transaction. The deal involved comprehensive support from the firm’s transaction and due diligence teams, which were led by Partners Abhishek Guha and Tanya Uppal, along with Mukul Baveja, who focused on due diligence. Senior Associates Amrita Ghosh and Akanksha Khare also contributed to the deal. Principal Associate Madhur Chopra, Senior Associate Chayanika Goyal, and Associate Srijan Srivastava worked exclusively on due diligence.
In addition, Shardul Amarchand Mangaldas’ Real Estate and Infrastructure teams provided guidance on relevant aspects of the transaction. Partners Radhika Dudhat and Bhoumick Vaidya, Counsel Rachna Bagri, Senior Associate Harshini Kotecha, and Senior Associate Vidhi Maniar Sanghavi were responsible for advising on real estate matters. Meanwhile, Partners V.R. Neelakantan and Dnyanraj Desai, Senior Associate Shubham Sharma, Counsel Priyanka Sheth, and Associate Dhwani Manish Baxi focused on infrastructure-related aspects.
Khaitan & Co represented Nahar Colours and Coating Private Limited, advising on the legal aspects of the deal.
Meanwhile, Latham & Watkins and PricewaterhouseCoopers provided advisory services to Pigments Spain S.L. on tax and valuation matters.
Altadia Group, headquartered in Castellon, Spain, is one of the world’s largest manufacturers of intermediate products used in the production of ceramic tiles. This acquisition is set to strengthen its footprint in the global ceramics sector, particularly in the growing Indian and Asia-Pacific markets.
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