Pioneer Legal, Crawford Bayley advise on Apollo Micro Systems’ (AMS) INR 1,550 crore acquisition of a controlling stake in Premier Explosives.
Apollo Micro Systems Limited has agreed to acquire the entire 41.33% shareholding held by AKS Family Trust in Premier Explosives Limited for a consideration of approximately INR 1,550 crore.
The transaction triggers a mandatory open offer under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, and is expected to close within five months, subject to customary regulatory approvals and closing conditions.
Pioneer Legal advised and assisted AKS Family Trust on the sale of its entire 41.33% shareholding in Premier Explosives Limited to Apollo Micro Systems Limited.
The core transaction team comprised Managing Partner Satish Kishanchandani, Partner Narendra Dingankar, Counsel Eishan Agnihotri, and Associate Dhruv Jain.
The core team was supported by Principal Associate Dhruval Sheth, Senior Associate Pranav Divgi, and Associate Hemangi Gurjar.
Crawford Bayley & Co acted as legal counsel to Apollo Micro Systems Limited in connection with the acquisition.
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