Dua Associates Advises JK Paper Limited To Acquire Manipal Utility Packaging Solutions for Rs 88.73 crores
LIVELAW NEWS NETWORK
18 Oct 2023 1:01 PM GMT
JK Paper Limited (JK Paper), one of India's largest paper and packaging board companies, has entered into a share purchase agreement (SPA) for acquiring 100 per cent equity shares of Manipal Utility Packaging Solutions Private Limited (MUPSPL) which is engaged in the business of manufacturing packaging products like folding cartons, corrugated boxes and labels with four manufacturing plants across India.
Dua Associates team led by Senior Advisor, Sunil Malik, and Partners C.R. Muralidharan, Mohd Iqbal Butt, Punish Arora advised JK Paper for acquisition of MUPSPL. The Firm advised, acted and assisted JK Paper on all aspects of the transaction including legal due diligence, drafting, reviewing, negotiating and finalizing the transaction documents.
JK Paper will acquire 4.07 crore equity shares representing 100 per cent of capital of MUPSPL as per the SPA. The closing/ acquisition is expected to be completed upon fulfilment of the conditions precedent as provided in the SPA.
As per the reports, the deal is significant as it strengthens JK Paper’s foothold in the flourishing Indian packaging market, which has witnessed encouraging growth fuelled by surges in end-use sectors like food & beverage and FMCG. Further this strategic acquisition will help client JK Paper meet its long-term objective and provide an opportunity to offer combined solution to the customers with respect to secondary and tertiary packaging.
About Dua Associates: Dua Associates is a leading law firm in India with an over thirty five year old track record of delivering critical legal solutions for its clients including Fortune 500 companies, financial institutions, governments and SMEs. The Firm is widely recognized for the depth of experienced legal talent and the significant experience of its 250 professionals including 75 partners.
About JK Paper Ltd: JK Paper is India's largest producer of branded papers and a leading player in the printing and writing segment. With over 50 years’ experience, it is today also a sustainable paper product solutions provider.
