Tatva Legal, Hyderabad has advised Pioneer Aluminium Industries Limited and its promoters in the sale of 26% of Pioneer Aluminium for USD 243.75 million to United Company RUSAL. United Company Rusal is a world leader in aluminium production. The objective of the deal is to graduate into a joint venture. This is a significant step in the Russian strategy of ‘looking towards India’. The proposed investment in India’s alumina manufacturing market, coupled with technical expertise from RUSAL will improve operational efficiency and promote economic development.
The team comprised of Basava Rao, Aditi Duggal, Sriharsha Madichetty and Gouri Meempat. Prateek Batra, Mahek Agarwal and Anirudh Krishna advised on the competition-related aspects of the deal.
Source: Tatva Legal’s LinkedIn Page
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