Leeds law team gets stuck into £1bn India deal
A TEAM from the Leeds office of Pinsent Masons have advised Indian conglomerate Nirma on the acquisition of Lafarge India in a £1.05bn ($1.4bn) deal.
Nirma has agreed to buy the group from Lafarge Holcim, a Franco-Swiss cement group, subject to approval by the Competition Commission of India.
An Ahmedabad-based company, Nirma has interests in FMCG, soda ash, chemicals and packaging.
Nirma was represented by Pinsent Masons acting as international legal counsel, with a team led by Leeds-based Andrew Kerr and Joanna Jowitt, alongside Mumbai-based Crawford Bayley with a team led by Sanjay Asher and Bhumika Batra.
Mr Kerr said: “This transaction is a landmark and significant step for Nirma and the acquisition of a strong platform in Lafarge India will allow the cement business to be taken to the next level.
“It is the second $1bn plus deal we have transacted in the building materials sector in a little over a year, having completed on the sale of Hanson Building Products during 2015 and the second $1bn plus deal the firm has handled in a week.”
LafargeHolcim was represented by Freshfields Bruckhaus Deringer as international counsel alongside AZB and Partners, Mumbai.
