Shardul Amarchand Mangaldas & Co Advises J.K. Investo Trade in Acquisition of Stake in J.K. Ansell

Shardul Amarchand Mangaldas & Co. acted as legal advisor on behalf of J.K. Investo Trade (India) Ltd., a group company of Raymond Ltd., in the acquisition of J.K. Ansell Private Ltd. from Pacific Dunlop Holdings (Singapore) Pte Ltd., a group company of Ansell Ltd.

J.K. Ansell Private Ltd. is a 50:50 joint venture company of Pacific Dunlop Holdings (Singapore) Pte Ltd. and J.K. Investo Trade (India) Ltd.. J.K. Ansell Private Ltd. manufactures condoms, toiletries (under the brand ‘Kamasutra’ and ‘KS’) (‘Sexual Wellbeing Business’) and rubber and latex gloves (‘Gloves Business’). The Gloves Business is in the process of being demerged from J.K. Ansell Private Ltd. into Ansell India Protective Products Private Ltd. (a group company of Ansell Ltd.), pursuant to which only the Sexual Wellbeing Business will be retained by J.K. Ansell Private Ltd..

Pursuant to the transaction, J. K. Investo Trade (India) Limited shall own 100% stake in J.K. Ansell Private Ltd. from Pacific Dunlop Holdings (Singapore) Pte Ltd., thereby acquiring the entire Sexual Wellbeing Business and shall sell its stake in Ansell India Protective Products Private Ltd. to Pacific Dunlop Holdings (Singapore) Pte Ltd, thereby divesting entirely from the Gloves Business.

The General Corporate and Dispute Resolution practices of Shardul Amarchand Mangaldas advised J.K. Investo Trade (India) Ltd. The team was involved in drafting and negotiating all transaction documents and providing general corporate advisory on the deal. The transaction team was led by Mr. Anuj Bhasme, Partner; and included Ms. Neety Thakkar, Senior Associate, Mr. Gaurav Dugar, Senior Associate and Mr. Avichal Mathur, Associate.

The Dispute Resolution Team advised on the demerger related aspects of the transaction. It was led by Mr. Ameya Gokhale, Partner; and included Ms. Meghna Rajadhyaksha, Principal Associate.

Parties involved in the transaction include J.K. Ansell Private Ltd., J.K. Investo Trade (India) Ltd., Ansell India Protective Products Private Ltd. and Pacific Dunlop Holdings (Singapore) Pte Ltd.

The advisors involved in the transaction were J Sagar Associates and PwC (advisors to Pacific Dunlop Holdings) and Deloitte (advisors to J.K. Investo Trade (India) Ltd.).

The deal value is confidential.

The deal was signed on 15 August 2017

About Shardul Amarchand Mangaldas & Co

With the legacy of a century, Shardul Amarchand Mangaldas & Co, established in 2015, is one of India’s leading law firms rated by international organisations, law directories and professional journals. As a full service law firm, Shardul Amarchand Mangaldas is renowned in the business community for its ability to enable business, its innovative solutions, responsiveness and collaboration with its clients. The Firm continues its journey as “a young and wise firm” in its “Centenary Year of Excellence”.

Currently, the Firm has over 510 lawyers, including 91 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru and Chennai.