Cyril Amarchand Mangaldas Advises AM Green Technology & Solutions B.V On iIs Strategic Acquisition Of Chempolis Oy From Fortum And Taaleri

Cyril Amarchand Mangaldas (CAM) advised Netherlands-headquartered AM Green Technology & Solutions B.V., a part of the Greenko Group,  (“Acquirer”) on its strategic acquisition (~96%) of Finland based Chempolis Oy (“Chempolis”) from Fortum Power and Heat Oy (“Fortum”), Taaleri Kiertotalous Ky, Taaleri CP Holding Oy and certain minority shareholders of Chempolis (“Sellers”), and the indirect acquisitions of Chempolis India Private Limited, a wholly owned subsidiary of Chempolis, and Chempolis’ shareholding in Assam Bio Ethanol Private Limited (formerly, Assam Bio Refinery Private Limited). Completion of the acquisition is subject to satisfaction of certain agreed conditions.

Cyril Amarchand Mangaldas also advised on the: (i) transfer of the biobased solutions business and related assets of Fortum (“Bio2X Business”) to Chempolis; (ii) the assignment and transfer of related Intellectual Property Rights from Fortum Oyj to Chempolis, (iii) the transitional services arrangement with respect to the Bio2X Business; and (iv) legal due diligence on Chempolis and its group companies in India.

The acquisition, marks the entry of AM Green into biofuels and with planned investments of $1 billion over the next three years, into Sustainable Aviation Fuels. 

Chempolis has been a major player in lignocellulosic feedstock processing, with research, technology capabilities and product development expertise spanning over 15 years. AM Green intends to license these patented technologies to partners worldwide to establish a global bio-refinery ecosystem.

The transaction team was led by Ruetveij Pandya, Partner; and Jeeta Nayak, Partner; with support from Sajith Anjickal, Associate; and Sana Sarosh, Associate.

Gayatri Shanker, Partner; supported by Aditi Chopra, Associate; advised on project contracts and financing related matters pertaining to the transaction.

Swati Sharma, Partner & Head – Intellectual Property; supported by Gitika Suri, Director;Sandeep Pandey, Principal Associate; and Andri Shukla, Senior Associate; advised on intellectual property related aspects of the transaction.

Avaantika Kakkar, Partner & Head - Competition); supported by Rajat Sharma, Senior Associate; advised on the competition law aspects of the transaction. 

Santosh Janakiram, Senior Partner; provided overall strategic inputs and guidance on the transaction.

The Legal Due Diligence was led by Jeeta Nayak, Partner; Gayatri Shanker, Partner; and Swati Sharma, Partner & Head – Intellectual Property;  and supported by Gitika Suri, Director; Sandeep Pandey,Principal Associate; and Andri Shukla, Senior Associate; Aditi Chopra, Associate; Sana Sarosh, Associate; Sajith Anjickal, Associate; Kajal Singhvi, Associate; and Nitya Ravichandra, Associate.

CAM advised as lead counsel for the Acquirer, and was the sole Indian legal counsel on the transaction.