Shardul Amarchand Mangaldas advised Emami Limited in acquisition of 26% stake in Brillare Science Private Limited (Brillare Science). Founded in 2009, and based in Ahmedabad, Brillare Science produces hair and skin care products, and sells them to professional salons. It owns popular brands ‘Brillare Science’, ‘Elementi Puro’ and ‘Root Deep’.
The General Corporate Practice of Shardul Amarchand Mangaldas advised Emami Limited and was involved in conducting due diligence, structuring the transaction, negotiations, drafting and finalisation of the shareholders’ agreement, share subscription agreement and the amended articles of Brillare Science and for taking the transaction to completion. The M&A Team of Shardul Amarchand Mangaldas was led by Ms. Sakshi Mehra, Partner; Mr. Victor Mukherjee, Principal Associate; Mr. Dipayan Bhattacherjee, Associate; and Ms. Smita Tejaswee, Associate.
The parties involved in the transaction were Emami Limited (Our Client) and Brillare Science Private Limited (Counter Party).
As a part of the transaction, Emami Limited has agreed to subscribe to compulsory convertible preference shares of Brillare Science in two tranches which upon conversion will result in Emami Limited holding a 26% (twenty six percent) equity stake in Brillare Science. Bon Proximo acted as the financial advisors to Brillare Science in the transaction.
The deal was signed on February 5, 2018. The first closing happened on February 5, 2018, and the final closing is subject to necessary approvals and fulfillment of certain conditions precedent.
About Shardul Amarchand Mangaldas & Co.
Shardul Amarchand Mangaldas & Co. (SAM & Co.), founded on almost a century of legal achievement, is one of India’s leading full-service law firms. The firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation and collaboration. SAM & Co. is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & bankruptcy, dispute resolution, capital markets, banking & finance and projects & infrastructure.
The Firm has a pan-India presence and has been at the helm of major headline transactions and litigations in all sectors, besides advising major multinational corporates on their entry into the Indian market and their business strategy. Currently, the Firm has over 520 lawyers, including 102 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru and Chennai.
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