Shardul Amarchand Mangaldas & Co (SAM) and Khaitan & Co have advised on the sale of PVR INOX’s entire shareholding in Zea Maize to Marico.
SAM advised PVR INOX, Zea Maize and its founder, Chirag Gupta, on the sale of PVR INOX’s entire shareholding in Zea Maize to Marico.
The transaction team was led by partner Nivedita Tiwari, supported by principal associate Kuhuk Jain, senior associates Tweisha Mishra and Vaibhavi Shaunak, and associate Satabdi Dash. The employment law and intellectual property teams assisted the transaction team.
Khaitan advised Marico.
PVR INOX is an Indian multiplex chain, while Zea Maize is the company behind the premium gourmet popcorn brand “4700BC”. The transaction enables PVR INOX to make a full exit from Zea Maize, allowing for the strategic monetisation of a non-core asset. Marico is a leading consumer goods company in India with business verticals across Asia and Africa.
RMB Capital India acted as financial adviser to Marico, while Axis Capital acted as financial adviser to PVR INOX, Zea Maize and Chirag Gupta.
