Cyril Amarchand Mangaldas advised Asian Paints, India’s leading paint manufacturing company and ranked among the top ten decorative coatings companies in the world, on their acquisition of Obgenix Software Private Limited (known as White Teak), a company engaged in the business of decorative lighting and home decor, from Mr. Pawan Mehta & Mr. Gagan Mehta, the selling shareholders of White Teak.
The General Corporate Practice of Cyril Amarchand Mangaldas advised Asian Paints on the deal. The team was led by Smruti Shah, Partner; with support from Aviral Chauhan, Principal Associate; and Priya Gupta, Associate.
Other Parties and Advisors to the transaction included Wadia Ghandy & Co. (legal counsel to the Sellers) and HDFC Limited (transaction advisors to the Sellers’).
As a part of the Transaction, Asian Paints Limited has entered into a definitive agreements with White Teak, for acquiring 100% shareholding in White Teak over 3 tranches to be completed in a period of 3 years.
The Transaction was signed on 1st April, 2022; and closed on 2nd April, 2022.
About Cyril Amarchand Mangaldas
India’s Leading Law Firm, Cyril Amarchand Mangaldas was founded on May 11, 2015 and takes forward the values going back 104 years, of the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co. Tracing its professional lineage to 1917, the Firm has 750 lawyers, including over 130 partners, and offices in India’s key business centres at Mumbai, New Delhi, Bengaluru and Ahmedabad. The Firm advises a large, and varied client base that includes domestic and foreign commercial enterprises, financial institutions, private equity funds, venture capital funds, start-ups and governmental and regulatory bodies.
The firm was recently named in ‘25 Most Innovative Companies of the Year’ by CII. Also, received “Law Firm of the Year” award at the Asian Legal Business (ALB) India Law Awards 2020 and “Law Firm of the Year, India” at the Asialaw Regional Awards 2020. The firm was recognised as the “Most Innovative National Law Firm of the Year – India for 2020” at the IFLR Asia Awards and voted as the “Employer of Choice for 2020” from India, by the Asian Legal Business.