Shardul Amarchand Mangaldas advises on the merger of Mangalore Chemicals & Fertilisers with and into Paradeep Phosphates Limited

February 12, 2024

Shardul Amarchand Mangaldas advised on the proposed composite scheme of arrangement involving the merger of Mangalore Chemicals & Fertilisers Ltd (MCFL) with and into Paradeep Phosphates Ltd (PPL). The composite scheme of arrangement also contemplates a transfer of shares of Mangalore Chemicals and Fertilizers Limited from Zuari Agro Chemicals Limited to Zuari Maroc Phosphates Private Limited as an integral part of the scheme of arrangement.

The proposed combined entity will become one of the largest integrated private sector fertilizer companies in India, with a total manufacturing capacity of ~3.6 MMTPA.

SAM & Co. team is led by Shardul S. Shroff, Executive Chairman; Gunjan Shah, Partner; Karun Prakash, Partner; Sangamitra Sankaraiah, Partner; Amrusha Monga, Associate; and Ruthvik Tumuluri, Associate.

The Competition Team is led by Rohan Arora, Partner; Aman Singh Sethi, Partner; Sakshi Agarwal, Associate; and Ritesh Puri, Associate.

Pricewaterhouse Coopers Private Limited acted as the financial advisors.

AZB & Partners advised OCP Group, Morocco (indirect shareholder of Paradeep Phosphates Limited) on the legal aspects.