Deal Closed | NUVOCO Vistas Corporation Limited | Acquisition Financing - Investment by Kotak Special Situations Fund (KSSF)

The details of the deal are as follows:

Sector: Cement

Announcement Date: 16-Jul-2020

Completion Date: 16-Jul-2020 

Name of Client: Nuvoco Vistas Corp Ltd. (Formerly Lafarge India Ltd.)

Name of Acquirer: Kotak Special Situations Fund | India Kotak Special Situations Fund (KSSF) is managed by Kotak Investment Advisors Limited. Kotak Investment Advisors Limited is a wholly-owned subsidiary of Kotak Mahindra Bank Limited which focuses on the Alternate Assets business of the Group.

Name of Target: Nuvoco Vistas Corp Ltd. (NVCL)(formerly Lafarge India Ltd.) | India NVCL (formerly Lafarge India Limited) has been a part of the Indian construction landscape since 1999 and has seven cement and close to sixty-five ready mix concrete plants in India.

Deal Description: Advised NUVOCO Vistas Corporation Limited (NVCL) in relation to the investment by Kotak Special Situations Fund (KSSF), an alternate investment fund, in NVCL to finance NVCL’s acquisition of Emami Cement Limited.

Total Consideration: Confidential

Team Members: The core deal team comprised of Mehul Shah (Partner), Ashraya Rao (Partner), Gahan Singh (Partner), Jhinook Roy (Principal Associate), Ritwik Kulkarni (Principal Associate), Suditi Surana (Senior Associate) and Sarat Chandra (Associate). Other aspects of the transaction were assisted by the following members: 

(i) Due Diligence: Divakar Gupta (Associate), Ruturaj Jere (Associate), Shraddha Desai (Associate), Murugaveni Pillai (Associate), Chitra Jha (Associate) and Noyonika Nair (Associate) 

(ii) Competition Law aspects: Anisha Chand (Partner), Soham Banerjee (Senior Associate) and Vasudhaa Ahuja (Associate) 

Role of Firm: The Firm was involved in the following: 

(1) Conducting a vendor legal due diligence of NVCL

(2) Reviewing and finalizing debenture subscription agreement, debenture holders’ agreement and other transaction documents; and 

(3) General legal advisory.

Other legal advisors: Wadia Ghandy (Xerxes Antia)