Wadia Ghandy & Co. and Cyril Amarchand Mangaldas (CAM) advised on Ingredion’s investment and joint venture with Sanstar Limited.
The transaction involves a 9% preferential issue of equity shares by Sanstar Limited, one of India’s leading corn-based speciality ingredient manufacturers, to Corn Products Development Inc., a subsidiary of Ingredion Incorporated. As part of the partnership, Sanstar and the Ingredion Group will also establish a jointly owned entity in India, with a 70:30 shareholding structure, focused on the manufacture, sale and distribution of specialty pharmaceutical excipients and other high-value ingredient solutions.
Wadia Ghandy & Co. advised Sanstar Limited on the transaction.
The Wadia Ghandy team was led by Partner Karishma Baria, supported by Senior Associate Varsha Jain and Associate Prapti Doshi.
Cyril Amarchand Mangaldas advised the Ingredion Group on its investment and strategic partnership with Sanstar.
The CAM team advising on the overall transaction was led by Partners Anand Jayachandran and Megha Krishnamurthi, with support from Senior Associate Rohit Maheshwary, Associates Kumari Saloni and Ayush Katyayana.
The real estate aspects of the transaction were advised by Partner Siddharth Singh, with support from Associate Rushi Panchal.
Competition law advice was provided by Partner and Head (Competition) Avaantika Kakkar, with support from Of Counsel Anand Sree.
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