CAM Advises Hero MotoCorp On Acquiring Additional Stake In Ather Energy Limited
Cyril Amarchand Mangaldas advised Hero MotoCorp Limited in connection with acquisition of additional stake of ~INR 1,758 crore in Ather Energy Limited.
Cyril Amarchand Mangaldas advised Hero MotoCorp Limited in connection with acquisition of additional stake of ~INR 1,758 crore in Ather Energy Limited, a listed company, by way of a secondary purchase.
The transaction is set to increase Hero's stake in Ather Energy to 32.8 per cent on a fully diluted basis. Its shareholding stands at 29.88 per cent currently. The transaction is expected to be completed by September 3, according to Hero MotoCorp.
The proposed acquisition will be carried out through an all-cash purchase of shares from an existing Ather shareholder, said Hero MotoCorp. In other words, the consideration of Rs 1,758 crore will go to the selling shareholder and does not mean a fresh capital infusion into Ather Energy itself.
The transaction was led by Ruetveij Pandya and Abhilasha Malpani, Partners; with support from Anoushka Ishwar, Senior Associate; Aanchal Jain and Simran Srivastava, Associates.