Transaction Summary | DSK Legal advices a consortium of investors led by GBL Clean Energy, Golden Agri Singapore & Others on their foray in Clean Energy and Ethanol manufacturing business.

DSK Legal advised a consortium of investors including GBL Clean Energy Private Limited (“GCEPL”), Golden Agri International Enterprises Pte Limited (“GAR”), K.N Agri Resources Limited and other investors for their investment in  Bluebrahma Clean Energy Solutions Private Limited (“Hold Co.”) and subsequently advised the Hold Co in relation to its 100% acquisition of the shareholding of Sagar Industries and Distilleries Private Limited (“Company”) from Mr. Nandu Kalani, Mr. Nirmal Kalani and Kalani family members (“Existing Shareholders”) along with 95 acres of land held by the Existing Shareholders adjacent to the existing manufacturing facility at Nashik of the Company (“Land Owners”) (“Transaction”). 

The Company is engaged in the business of manufacturing (raw material) molasses, grain and/or sugar cane juice based, extra neutral alcohol, ethanol, rectified spirit and special denatured spirit (“Business”). The Company plans to be one of the leading ethanol suppliers in the country under the Government of India’s Ethanol Blending Programme and National Policy on Biofuels.

DSK Legal assisted in, inter-alia: (i) advising on the overall structure of the Transaction; (ii) conducting legal due diligence on the Company and due diligence on the land held by the Company; (iii) drafting, reviewing, negotiating and finalizing of: (a) share purchase agreement executed amongst Hold Co., Company, and the Existing Shareholders; (b) share subscription and shareholder’s agreement executed at Hold Co by GCPEL, GAR and other investors; (c) sale deeds executed between the Hold Co. and the respective Land Owners; and (d) other ancillary documents in relation to the Transaction; and (iv) assisting in execution and closing of the Transaction.

The team representing DSK Legal comprised of Mr. Jayesh Kothari (Associate Partner), Ms. Hemanshi Gala (Associate) and Mr. Kunal Chopra (Associate). They were assisted by Mr. Sagar Kadam (Partner) and Ms. Kinjal Gandhi (Associate) on the real estate aspects of the Transaction. Mr. Hemang Parekh (Partner) provided strategic inputs on the structure of the Transaction.

The Company and the Existing Shareholders were represented by Federal & Company.