Canada-based Ag Growth International Inc has acquired 100% of the shares outstanding of Indian company Milltec Machinery Limited for $109.5m, plus up to $38.4m based on attaining future financial goals. The transaction was funded by AGI’s revolving credit facility,” reported the company about the sale of the shares by Alternate Asset Management, Bengal Finance & Investment Private Limited and other individual shareholders, including the promoters R Ravindranath and J Rajendran.

Khaitan & Co advised Multiples Alternate Asset Management Private Limited led by a team of partner Vineet Shingal, partner Bijal Ajinkya, principal associate Kaushalya Shetty, principal associate Aditi Sharma, associate Shailesh Singh, associate Sneh Shah.

Update 29 May 2019: J Sagar Associates advised Milltec Machinery Limited led by a team of partner Gerald Manoharan; counsel Manuel Jose; and associate Sonakshi Das.

Ag Growth International was represented by the Bengaluru office of Shardul Amarchand Mangaldas.

2019-03-28

Deal value: USD 109.5 million

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