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

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

Majmudar & Partners ranked by ITR World Tax

Majmudar & Partners has been ranked by ITR World Tax under general corporate tax and indirect tax practice areas as part of its 2022 rankings. Among recognized partners is Ravi S. Raghavan, Partner, at Majmudar & Partners, as a highly regarded practitioner...

read more