JSA Advised Del Monte Pacific And Other Del Monte Group In Share Swap Transaction

JSA advised and assisted Del Monte Pacific and other Del Monte group entities in a share swap transaction between Agro Tech Foods Limited (“ATFL”), and Del Monte Pacific and Bharti Enterprises (the existing shareholders of Del Monte Foods Private Limited).\The transaction contemplates ATFL issuing corresponding shares via preferential issue to various 

Bharti entities and Del Monte Pacific, as consideration for the sale of their respective shares in Del Monte Foods Private Limited. Del Monte Pacific will continue to license the trademark ‘Del Monte’ to Del Monte Foods Private Limited. The deal is subject to regulatory approvals including approval from the Competition Commission of India. Post consummation of the transaction, Del Monte will become a wholly-owned subsidiary of ATFL.

Del Monte Foods supplies processed food and beverage products in India and some South Asian countries. Its products include Italian, dips and spreads, ketchup and sauces, dried and packaged fruits, and beverages.