Grasim Industries Limited (NSEI:GRASIM) signed a definitive agreement to acquire Soktas India Private Limited from Söktas Tekstil Sanayi Ve Ticaret A.S. (IBSE:SKTAS) for an enterprise value of INR 1.7 billion on March 5, 2019. The consideration is subject to net debt and working capital adjustments as of the closing date. The transaction will be funded primarily out of internal accruals. Soktas India Private Limited will become a wholly owned subsidiary of Grasim Industries upon completion of the transaction. For the year ended March 31, 2018, Soktas India reported revenue of INR 1.86 billion and EBITDA of INR 310 million. The completion of the transaction is subject to requisite approvals being obtained.

Grasim Industries Limited (NSEI:GRASIM) completed the acquisition of Soktas India Private Limited from Söktas Tekstil Sanayi Ve Ticaret A.S. (IBSE:SKTAS) for INR 1.4 billion on March 29, 2019. The consideration was paid in cash. Post completion, Soktas India became a wholly owned subsidiary of Grasim Industries. Gopika Pant, Kanika Premnarayen, Abhimanyu Kaul and Divakar Gupta of Indian Law Partners acted as legal advisors for Söktas Tekstil Sanayi Ve Ticaret A.S. Vineet Shingal (Picture), Shailendra Bhandare, Niharika Mepani, Aman Dwivedi, Sourav Dan, Rhea Jha, Mahima Narsaria, Nayantara Kutty, Supratim Chakraborty, Sneha Oak Joshi, Prithwijit Gangopadhyay, Shourya Sengupta, Sumantra Bose, Aritri Roy Choudhary and Sneh Lata of Khaitan & Co. acted as legal advisors for Grasim Industries Limited.Global M&A GmbH acted as financial advisor to