Majmudar & Partners assisted Intertape Polymer Group, INC. on its acquisition of a 26% ownership stake in Powerband

by | Nov 20, 2018

Majmudar & Partners assisted Intertape Polymer Group, Inc. (ITP:CA), a leading listed manufacturer of packaging products and machinery, on its acquisition of a 26% ownership stake in Powerband Industries Private Limited (Powerband) from the Desai Family at an enterprise value of US$40 million.  Pursuant to this transaction, Powerband is a wholly-owned subsidiary of Intertape Polymer Group.  Powerband is a global supplier of acrylic adhesive-based carton sealing tapes and stretch films located in Daman, India.

Rukshad Davar, Partner and Head of the M&A and Competition Practices, led the team from Majmudar & Partners on this transaction as Indian legal counsel, and Pillsbury Winthrop Shaw Pittman LLP acted as US legal counsel.  Wadia Ghandy & Co. represented the Desai Family.

Source: Bar & Bench

More News

Legal Era 2024-25 rankings

We are pleased to share that Akil Hirani, Managing Partner and Head of Transactions, Rukshad Davar, Partner and Head - M&A Practice Group, and Ravi S. Raghavan, Partner - Tax and Private Client Group, have been recognized as leading lawyers by Legal Era in their...

read more

US Fiscally Transparent LLC qualifies as a US Tax Resident

The Indian tax authorities have denied treaty benefits to fiscally transparent entities such as foreign partnership firms and limited liability corporations (LLCs) on the ground that such entities are not liable to tax in their home country and do not qualify as tax...

read more

ITR World Tax 2025 Rankings

We are pleased to share that we have been ranked by ITR World Tax in the practice areas of General Corporate Tax, Indirect Tax and Transfer Pricing. Akil Hirani, Managing Partner and Head of Transactions, and Ravi S. Raghavan, Partner - Tax and Private Client Group,...

read more