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

India – Arbitration Update

Jul 6, 2023

In the recent ruling of Orissa Metaliks Pvt. Ltd. v. SBW Electro Mechanics Import Export Corporation (2023 SCC OnLine Cal 1583), the Calcutta High Court (HC), in deciding the validity of an arbitration clause, has held that the venue of the arbitral proceedings must...

read more

Benchmark Litigation rankings 2023

May 11, 2023

We are pleased to share that we have been ranked for multiple practice areas in the Benchmark Litigation 2023 rankings. Firm Rankings Commercial and Transactions Construction Government and Regulatory Insolvency International Arbitration Labour and Employment...

read more

New authority for company strike off

Apr 21, 2023

To simplify the processing of applications to strike off Indian companies from the register (a step which comes after liquidation formalities are complete and effectively marks the closure of an Indian company), on March 17, 2023, India’s Ministry of Corporate...

read more

India – Insurance Update

Apr 5, 2023

The IRDAI has notified three regulations, which came into force on April 1, 2023, that are poised to grant insurers greater freedom in their organizational management and will have a material impact on insurers, insurance intermediaries and insurance agents.  ...

read more