Business Standard

SPONSORED CONTENT

What's this ?

Sponsored Content is a "Paid For" Press Release distribution arrangement. Purely a Commercial Arrangement, brands and advertisers pay to be featured and to get this content published.

The Editorial/Content team at Business Standard has not contributed to writing/editing this article.

To get your brand featured in this Section write to assist@bsmail.in

Cyril Amarchand Mangaldas advises in relation to divestment of stake by International Paper Investments in Andhra Paper

ANI Press Release  |  Mumbai (Maharashtra)/New Delhi [India]  

Tennis player James Blake
Cyril Amarchand Mangaldas

Cyril Amarchand Mangaldas advised in relation to the offer for sale of equity shares of Andhra Paper Limited (Andhra Paper) through stock exchange mechanism by International Paper Investments (Luxembourg) SARL (Seller), one of the promoters of the Andhra Paper.

Cyril Amarchand Mangaldas acted as the legal counsel to DSP Merrill Lynch Limited, the Broker to the sale, in the transaction.

The Capital Markets team of Cyril Amarchand Mangaldas advised on the transaction.

The transaction team was led by Yash Ashar, Partner & Head - Capital Markets; Abhinav Kumar, Partner; and Anuj Pethia, Partner; with support from Parth Desai, Associate; Surbhi Purohit, Associate.

As a part of the transaction, the Seller sold 68,41,004 equity shares of the face value of Rs 10 each of the Andhra Paper (Equity Shares) for an aggregate amount of Rs 134.36 crores. The sale took place on the separate trading window of Bombay Stock Exchange (BSE) and National Stock Exchange of India Limited, on a price priority basis at multiple clearing prices.

Post the sale which took place on June 24, 2020 and June 25, 2020, the shareholding of the Seller has reduced to 2.8 per cent of the total issued and paid-up equity share capital of the Andhra Paper. Pursuant to the transaction, Andhra Paper has met the minimum public shareholding requirements of the Company in terms of Securities Contract (Regulation) Rules and SEBI Listing Regulations.

Other Parties and Advisors to the Transaction included:

* DSP Merrill Lynch (Broker to the Sale)

* Veritas Legal (Seller's counsel as to Indian law)

* Loyens & Loeff (Seller's counsel as to Luxembourg law)

* Sidely Austin LLP (Broker's international counsel)

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, July 14 2020. 23:30 IST
RECOMMENDED FOR YOU

Cyril Amarchand Mangaldas advises in relation to divestment of stake by International Paper Investments in Andhra Paper

Mumbai (Maharashtra)/New Delhi [India] July 14 (ANI/NewsVoir): Cyril Amarchand Mangaldas advised in relation to the offer for sale of equity shares of Andhra Paper Limited (Andhra Paper) through stock exchange mechanism by International Paper Investments (Luxembourg) SARL (Seller), one of the promoters of the Andhra Paper. Cyril Amarchand Mangaldas advised in relation to the offer for sale of equity shares of Andhra Paper Limited (Andhra Paper) through stock exchange mechanism by International Paper Investments (Luxembourg) SARL (Seller), one of the promoters of the Andhra Paper.

Cyril Amarchand Mangaldas acted as the legal counsel to DSP Merrill Lynch Limited, the Broker to the sale, in the transaction.

The Capital Markets team of Cyril Amarchand Mangaldas advised on the transaction.

The transaction team was led by Yash Ashar, Partner & Head - Capital Markets; Abhinav Kumar, Partner; and Anuj Pethia, Partner; with support from Parth Desai, Associate; Surbhi Purohit, Associate.

As a part of the transaction, the Seller sold 68,41,004 equity shares of the face value of Rs 10 each of the Andhra Paper (Equity Shares) for an aggregate amount of Rs 134.36 crores. The sale took place on the separate trading window of Bombay Stock Exchange (BSE) and National Stock Exchange of India Limited, on a price priority basis at multiple clearing prices.

Post the sale which took place on June 24, 2020 and June 25, 2020, the shareholding of the Seller has reduced to 2.8 per cent of the total issued and paid-up equity share capital of the Andhra Paper. Pursuant to the transaction, Andhra Paper has met the minimum public shareholding requirements of the Company in terms of Securities Contract (Regulation) Rules and SEBI Listing Regulations.

Other Parties and Advisors to the Transaction included:

* DSP Merrill Lynch (Broker to the Sale)

* Veritas Legal (Seller's counsel as to Indian law)

* Loyens & Loeff (Seller's counsel as to Luxembourg law)

* Sidely Austin LLP (Broker's international counsel)

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
image
Business Standard
177 22

Cyril Amarchand Mangaldas advises in relation to divestment of stake by International Paper Investments in Andhra Paper

Cyril Amarchand Mangaldas advised in relation to the offer for sale of equity shares of Andhra Paper Limited (Andhra Paper) through stock exchange mechanism by International Paper Investments (Luxembourg) SARL (Seller), one of the promoters of the Andhra Paper.

Cyril Amarchand Mangaldas acted as the legal counsel to DSP Merrill Lynch Limited, the Broker to the sale, in the transaction.

The Capital Markets team of Cyril Amarchand Mangaldas advised on the transaction.

The transaction team was led by Yash Ashar, Partner & Head - Capital Markets; Abhinav Kumar, Partner; and Anuj Pethia, Partner; with support from Parth Desai, Associate; Surbhi Purohit, Associate.

As a part of the transaction, the Seller sold 68,41,004 equity shares of the face value of Rs 10 each of the Andhra Paper (Equity Shares) for an aggregate amount of Rs 134.36 crores. The sale took place on the separate trading window of Bombay Stock Exchange (BSE) and National Stock Exchange of India Limited, on a price priority basis at multiple clearing prices.

Post the sale which took place on June 24, 2020 and June 25, 2020, the shareholding of the Seller has reduced to 2.8 per cent of the total issued and paid-up equity share capital of the Andhra Paper. Pursuant to the transaction, Andhra Paper has met the minimum public shareholding requirements of the Company in terms of Securities Contract (Regulation) Rules and SEBI Listing Regulations.

Other Parties and Advisors to the Transaction included:

* DSP Merrill Lynch (Broker to the Sale)

* Veritas Legal (Seller's counsel as to Indian law)

* Loyens & Loeff (Seller's counsel as to Luxembourg law)

* Sidely Austin LLP (Broker's international counsel)

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22
.