Davis Polk, Khaitan & Co and Shardul Amarchand Mangaldas (SAM) advised on Crystal Crop Protection’s US$252 million acquisition of FMC India.
Crystal Crop Protection Limited has agreed to acquire 100% shareholding of FMC India Private Limited from FMC Corporation and its group entities for approximately US$252 million (approximately INR 22.68 billion), subject to customary adjustments for cash, debt and working capital.
Pursuant to the transaction, Crystal will also acquire FMC India’s commercial operations in the crop protection business, including a licence to FMC’s brands sold in India, preferred supply arrangements for certain active ingredients and formulated products, and preferred access to FMC’s pipeline products in India.
Davis Polk & Wardwell LLP acted as US legal adviser to FMC Corporation on the transaction.
The Davis Polk corporate team included Partners William H. Aaronson and Shanu Bajaj, and Associate Maggie (Meizhang) Xing. Partner Pritesh P. Shah, Counsel Yana Kipnis and Associates Ted (Edward) Talas and Shreya R. Kundur advised on intellectual property and commercial transactions matters. Partner William A. Curran and Associate Alanna Phillips advised on tax matters.
Khaitan & Co acted as India legal adviser to FMC Corporation on the transaction.
Shardul Amarchand Mangaldas (SAM) advised Crystal Crop Protection Limited on the acquisition.
The Transaction Team was led by Partners Puja Sondhi and Aayush Kapoor, along with Principal Associate Sourav Nath; Senior Associates Prerna Saroha, Vaibhavi Shaunak and Pratim Majumder; and Associate Rishika Arya.
The Direct Tax Team comprised Partners Gouri Puri and Rahul Yadav, along with Principal Associate Nimish Malpani.
The Indirect Tax Team comprised Partner Rajat Bose, along with Consultant Neeladri Chakrabarti and Principal Associate Vikram Singhal.
The IP Team comprised Partner Apoorva Murali and Associate Anshika Chadha.
The Competition Team comprised Partner Rohan Arora, along with Senior Associate Ritesh Puri and Associate Ojaswi Bhagat.
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