AZB & Partners Acts as Legal Advisor to sellers in Strategic Acquisition to Boost SCIL’s Global Presence and Product Range
Sudarshan Chemical Industries Limited (SCIL) has entered into a definitive agreement to acquire the global pigment business of Germany’s Heubach Group for ₹1,180 crore (€127.5 million).
The transaction, which involves a combination of asset and share acquisition, was facilitated by AZB & Partners, serving as legal advisor to the sellers, including a consortium of entities within the Heubach group and their lenders.
The M&A deal team from AZB & Partners included Senior Partner Nandish Vyas, Senior Associate Karun Jhangiani, and Associates Manhar Chaudhary, Meghna Somani, and Gaurav Jayakumar. They received additional support from Partner Suharsh Sinha and Associate Rashi Priya regarding insolvency law, as well as Partner Bharat V Budholia, Senior Associate Varun Thakur, and Associate Ojaswi Bhagat for Competition Commission of India (CCI) matters.
Following the announcement, SCIL’s shares surged by 19.1%, reaching ₹1,208 and valuing the company at ₹8,359 crore. This acquisition is expected to enhance SCIL’s product offerings and leverage Heubach’s technological strengths and established markets in Europe and the Americas. The merged entity will boast an extensive pigment portfolio, 19 global sites, and a diversified asset base. Heubach became the world’s second-largest pigment producer in 2022 after merging with Clariant.
Share your news, articles, deals, columns, or press releases with us! Click the link to submit and join our platform today.
