Dua Associates Advises The Estée Lauder Companies On Acquisition Of Forest Essentials
Dua Associates acted as Indian legal counsel to The Estée Lauder Companies Inc. (NYSE: EL) in connection with its agreement to acquire the remaining 51% shareholding in Mountain Valley Springs India Private Limited, the parent company of the Ayurvedic skincare brand Forest Essentials, from existing shareholders, including Indian promoters Ms. Mira Kulkarni and Mr. Samrath Bedi.
Upon completion, The Estée Lauder Companies will obtain full ownership and control of Forest Essentials. The transaction reflects continued interest of global beauty companies in India's Ayurvedic and wellness sector.
Dua Associates advised on all Indian law aspects of the transaction, including conducting legal due diligence, advising on transaction structuring and strategy, reviewing and negotiating transaction documentation, and providing advice on the applicable regulatory framework, including issues relating to India's Ayurvedic and cosmetics regulations.
The matter was led by partners Neeraj Kumar, Sanjeev Kaul and Abhinav Rastogi, and supported by Jay Badola, Jyoti Pande, Monica Das, Ashish Malkotia, Varun Mathur, Nikhil Raghav Reddy, and Anshuman Malik.
Lowenstein Sandler LLP acted as co-counsel to The Estée Lauder Companies, while AZB & Partners represented the selling shareholders.
The transaction is currently in progress.