Argus Partners and DMD Advocates advised on Indian Metals & Ferro Alloys Ltd’s (IMFA) acquisition of Tata Steel Limited’s ferro chrome unit at Kalinganagar, Odisha.
Under the definitive agreements, IMFA will acquire 99 MVA furnace capacity (66 MVA existing and 33 MVA under construction) for a base purchase consideration of ₹610 crore.
Argus Partners has advised Tata Steel Limited on the sale of its ferro chrome unit located at Kalinganagar, Odisha to Indian Metals & Ferro Alloys Ltd. The deal is significant in the ferro chrome space creating India’s largest ferro chrome producer. The team advising Tata Steel Limited comprised Partner Adity Chaudhury, and Associates Anika Sharma, and Vaibhav Kesarwani.
DMD Advocates advised Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated producer of value-added ferro chrome, on its acquisition of Tata Steel Limited’s ferro chrome plant set up on 115 acres of land, located at Kalinganagar, Odisha, by way of an asset purchase transaction. DMD was involved in legal due diligence, as well as drafting, negotiating, and finalizing the transaction documents.
The transaction was led by Senior Partner & Head of Corporate Rashi Dhir, along with Partner Tarinee Sudan, Principal Associate Shubhangi Bhatnagar, & Associates Aditi Kumari, Srishti Pandey, Jasmine Brar, Sarvagya Shankar, and Shriya Sehgal.
Partner Rahul Sateeja and Principal Associate Vikrant A. Maheshwari advised IMFA from an Indian tax perspective.
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