Veritas Legal led the joint venture between UPL and Aarti Industries, aimed at manufacturing and marketing specialty chemicals for diverse downstream industries.
In this collaborative effort, both companies have committed a total investment of USD 34 million.
Following the completion of the transaction, UPL and Aarti Industries will each hold a 50% stake in Augene Chemical Private, a newly established company focused on the production of chemicals and chemical products. Notably, Aarti Chemicals Private, a prominent Indian chemical manufacturer specializing in industrial chemicals, is a key player in this venture.
Veritas Legal provided comprehensive support in drafting various transactional documents, including the shareholders agreement, share subscription agreement, and manufacturing and supply agreements.
The firm’s dedicated team, led by partners Abhijit Joshi, Tushar B Raut, and Shubhangi Pathak, along with senior associate Avadhoot Potnis, principal associate Zenia Cassinath, and associates Anamika, Prapti Parwani, and Swasti Patoria, ensured the smooth execution of the deal.
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