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Firm Matters

responsAbility, FMO and Incofin Foundation - Acquisition of minority stake in Ace International Ltd

  • 17-Dec-2025

Khaitan & Co acted as legal advisors for responsAbility, a Europe-based private equity fund, FMO, a Netherlands based fund and Incofin Foundation, a Belgium based foundation in their acquisition of minority stake in Ace International Ltd (parent of Mahaan Milk Foods Ltd), a North India-based dairy products exporter as a part of equity funding round from impact investors to enhance its production and procurement capabilities.

Deal Team

responsAbility

The core team consisted of Ashutosh Sharma (Partner), Sweta Rao (Counsel) and Madhav Chandan (Senior Associate)

The deal was assisted by: 

Competition / Antitrust: Anisha Chand (Partner), Soham Banerjee (Counsel) and Toshika Soni (Associate) 

Corporate & Commercial: Arvind Ramesh (Associate), Pooja P N (Associate), and Sakshi Dinesh Shetty (Associate)