Firm Matters
BackKhaitan & Co advised Stonepeak Partners LLC on the proposed acquisition of Castrol Group Holdings Ltd from BP plc. (Seller), in a transaction valuing the Castrol business at an enterprise value of ~USD 10 billion. The Seller will retain a 35% non-controlling interest as part of the transaction. Since Castrol India is an indirect subsidiary of Castrol Group Holdings, the transaction also triggered a mandatory open offer by the Acquirer and the PACs to acquire shares from the public shareholders of Castrol India under the relevant provisions of SEBI (Substantial Acquisition of shares and Takeovers) Regulations, 2011.The transaction involves acquisition of a truly multinational business with presence in over 150 countries.
The Firm advised and assisted the Client on finalization of transaction documents from an Indian law perspective and the diligence of the Target Company. The firm also advised on the mandatory open offer triggered by the global transaction.
Deal Team
The core team consisted of Shishir Vayttaden (Partner), Shashank Patil (Counsel), Surbhi Ajitsaria (Principal Associate), Suyashi Mishra (Senior Associate), Vritika Lakhwani (Senior Associate) and Anjana Raghunath (Associate)
Strategic Guidance
Corporate & Commercial: Arindam Ghosh (Partner)
Employment Labour & Benefits: Vinay Joy (Partner), Srishti Ramkrishnan (Counsel), Simran Sharma (Senior Associate) and Ajay Kranthi Kothwal (Associate)
Intellectual property: Nirupam Lodha (Partner), Janaksinh Jhala (Counsel), Abhishek Kumar (Principal Associate), Gautam Wadhwa (Senior Associate), Malika Nandkeolyar (Senior Associate), Toshani Mukherjee (Senior Associate) and Mathews Savio (Associate)
Dispute Resolution: Manavendra Mishra (Partner), Madhur Arora (Senior Associate) and Soumyadip Ghorai (Associate)
Competition / Antitrust: Anshuman Sakle (Partner)
Direct tax: Jimmy Bhatt (Partner) and Vishal Samnani (Senior Associate)
Indirect tax: Mayank Jain (Partner), Pranay Sahay (Principal Associate) and Rajshree Lohia (Senior Associate)
Environmental: Vanita Bhargava (Partner) and Vishal Shrivastava (Principal Associate)
Corporate & Commercial: Bhaskar Vishwajeet (Associate), Jahnavi Yalavarthi (Associate), Pragyansh Nigam (Associate) and Radhika Naik (Associate)
