Cyril Amarchand Mangaldas advises Aditya Birla Fashion and Retail on acquisition of TCNS Clothing
May 31, 2023
BusinessWire India
Mumbai (Maharashtra)/ New Delhi [India], May 31: Cyril Amarchand Mangaldas acted as the legal counsel to Aditya Birla Fashion and Retail Limited (ABFRL) on its acquisition of TCNS Clothing Co. Limited (TCNS).
The General Corporate Practice of Cyril Amarchand Mangaldas advised on the transaction. The transaction team was led by Nivedita Rao, Partner & Deputy Head - Corporate; Ruetveij Pandya, Partner; Anand Jayachandran, Partner with support from Abhilasha Malpani, Principal Associate; Sheetal S, Senior Associate; Anushka Jain, Senior Associate; Kritika Dobhal, Associate; Ayushi Singh, Associate; Vishvas Bharadwaj, Associate; Rohit Maheshwary, Associate; Ipkshita Singh, Associate; and Alok Agrawal, Associate;
Avaantika Kakkar, Partner and Head-Competition, Kirthi Srinivas, Partner, Shivani Sathe, Associate, Shruti Khaitan, Associate and Vanya Agarwal, Associate; assisted in the Competition law related advisory.
Pallavi Rao, Partner, Shatrajit Banerji, Principal Associate and Shubhaankar Ray, Associate; assisted in the IP related advisory.
As part of the transaction, ABFRL is to acquire 51 per cent stake in TCNS by way of a share purchase from the promoters of the TCNS, followed by a conditional open offer to the TCNS' public shareholders, and subsequent merger of the TCNS in ABFRL.
Other parties to the transaction included Credit Suisse (acted as Investment Banker for target company).
The Transaction was signed on 5th May 2023, and will be closed within 9-12 months.
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