Cyril Amarchand Mangaldas advised V-Guard Industries Limited (V-Guard), on its proposed acquisition of 100% stake in Sunflame Enterprises Private Limited (Sunflame), for an aggregate value of INR 660 crores, on a cash-free debt-free basis, subject to closing adjustments. V-Guard is a consumer electrical and electronics major in India. Sunflame is a significant player in the domestic kitchen appliances segment.
The General Corporate Practice of Cyril Amarchand Mangaldas advised V-Guard on the transaction. The transaction team was led by Akila Agrawal, Partner and Head – M&A; and Navin Kumar, Partner; with support from Ashlesha Mittal, Associate; Abhishek Ganguly, Associate; and Aryan Vij, Associate.
Intellectual Property advisory was provided by Pallavi Rao, Partner; with support from Shatrajit Banerji, Principal Associate Designate.
Employment law advisory and due diligence was led by Richa Mohanty Rao, Partner; with support from Mansi Mantoo, Senior Associate; and Kartik Adlakha, Associate.
Competition law advisory was provided by Vijay Pratap Singh Chauhan, Partner.
The in-house legal team of V-Guard was led by Roopak Ahluwalia, Head – Legal.
Other Parties and Advisors to the transaction included Singhi Advisors (acted as transaction advisor for V-Guard) and Deloitte Touche Tohmatsu India (acted as financial advisor for V-Guard).
The transaction was signed on 9th December 2022; and the closing is subject to completion of customary conditions precedent.
About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With 1000 lawyers and 160 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2021.
