Khaitan & Co has advised Astral on acquiring 100% of the issued and paid-up share capital of Al-Aziz Plastics from its shareholders for an undisclosed amount.
The core transaction team from Khaitan comprised partner Anand Mehta, assisted by principal associate Bhavya Bhankharia, senior associate Utsav Mitra, and associates Alankrita Singh and Khushi Sharma. Partner Devendra Deshmukh and his associates supported the core team.
The firm counselled Astral on the overall transaction, including negotiating, drafting and reviewing the definitive agreements, undertaking due diligence on Al-Aziz Plastics, and assisting with the execution of the transaction documents.
The in-house legal team handled transaction matters for Al-Aziz Plastics, which manufactures fittings and accessories for the channelisation of electricity, water and gas in India.
Astral is a leading manufacturer of plastic pipes in India and has also diversified into adhesives, paints and bathware.
