Shardul Amarchand Mangaldas (SAM) and Khaitan & Co advise on Aica Kogyo’s acquisition of controlling stake in Stylam Industries, triggering mandatory open offer.

The transaction will involve secondary purchases by Aica from the existing promoters of Stylam and a mandatory open offer to the public shareholders of Stylam under the SEBI Takeover Regulations, which will ultimately result in a controlling stake in Stylam for Aica.

SAM advised Aica Kogyo Company, Limited (Japan) on the execution of definitive agreements for its takeover of Stylam Industries Limited, a listed Indian manufacturer of high-pressure laminates and decorative surface solutions.

The SAM Transaction Team was led by Partners Jamshed Bhumgara and Kaustubh Verma, with support from Counsel Bharath Sridhar; Senior Associates Shruti Khetan, Ankit P, & Sanjana Kumar, & Associates Mahinder Udasi, and Jay Sureka.

The Securities Law Team comprised Partner Yogesh Chande; Principal Associate Preeti Kapany; and Associates Lipika Vinjamuri and Anushri Mandal. The Dispute Resolution Team included Partners Shreya Jain, & Atika Vaz, and Associate Eeshan Sonak. The Competition Law Team comprised Partner Aman Singh Sethi and Associate Ojaswi Bhagat. The Employment Law Team included Partners Pooja Ramchandani and Kriti Kaushik, and Principal Associate Suryansh Gupta. Partner Mukul Baveja provided guidance on Intellectual Property matters, while Managing Partner Akshay Chudasama contributed strategic inputs on the overall transaction.

Khaitan & Co advised certain promoters of Stylam Industries Limited on the sale of up to 40% stake to Aica Kogyo. The deal team comprised Abhishek Dadoo, Jayantika Khanna, Trisha Shetty, and Vaishnavi Salimath.