AZB & Partners advised and assisted AarhusKarlshamn Holding AB (subsidiary of AAK AB) in acquisition of 51 % of the shares of Kamani Oils Industries Private Limited, for a consideration of over USD 10 million.The AZB team comprised Partners Zia Mody and Ratnadeep Roychowdhury and Associate Palak Khandelwal.The remaining 49 percent of the company’s shares will continue to be owned by the Chawla family and Mr. Prakash Chawla will continue as Chief Executive Officer. There is, in addition, a put/call option under which AAK could acquire the remaining 49 percent of the company within the next 3–7 years.Kamani operates out of a strategically located and modern production plant in Khopoli, which is situated 70 km southeast of Mumbai where the company’s head office is located. Arne Frank, President and CEO, AAK Group, stated that the acquisition is an integral part of AAK’s company program AAKtion and that it will strengthen AAK’s presence in another fast-growing economy.
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