Cyril Amarchand Mangaldas acted as the legal counsel to ITC Limited on its proposed acquisition of the pulp and paper business undertaking of Aditya Birla Real Estate (formerly Century Textiles and Industries) under the name of ‘Century Pulp & Paper’ (CPP), along with the assets, liabilities, contracts, employees etc., as a going concern on a slump sale basis, by way of a Business Transfer Agreement for a lump sum consideration of up to Rs. 3,500 Crores subject to the adjustments specified in the Agreement. The Business Transfer Agreement was executed on March 31, 2025 and the transaction is subject to receipt of requisite approvals (including from the CCI).
The Transaction Team comprised of Ramgovind Kuruppath, Megha Krishnamurthi, Pruthvi Jasani, Rahil Mehta. Due Diligence Team: Nayana Dasgupta, Shrudula Murthy, Bharat Harne.
The Real Estate Due Diligence Team comprised of Ashish Jain, Karan Sharma, Shorya Choudhary, Kartik Adlakha, Bhawani Rajpurohit.
The Employment Due Diligence Team included Bishen Jeswant, Akash Mishra, Rachita Shah, Jay Sharma Competition Law Advisory: Dhruv Rajain, Ananya Mahant, Amritesh Anand, Rasmani Raghuwanshi.
Source: Cyril Amarchand Managaldas’ LinkedIn Page
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