Cyril Amarchand Mangaldas and AZB & Partners are acting for two branches of the Godrej family advising on a settlement arrangement in a realignment of the Godrej Group, one of India’s oldest and largest business houses.
Cyril Amarchand Mangaldas is counsel for the family branches led by Adi Godrej and Nadir Godrej, while AZB is advising the branches led by Jamshyd Godrej and Smita Godrej Crishna.
The two groups, who have entered into a family settlement arrangement, have also signed a brand and non-compete agreement to outline their mutual understanding regarding the use of the Godrej brand. This realignment is pending necessary approvals.
Managing partner Cyril Shroff, along with partners Rishabh Shroff and Ramgovind Kuruppath led the transaction team at Cyril Amarchand Mangaldas. Principal associate Archit Bhatnagar, as well as senior associates Surabhi Saboo and Nikita Singhi assisted. The competition law and corporate practice teams also advised.
Managing Partner Zia Mody and senior partner Vaidhyanadhan Iyer led the AZB transaction team, while the core team comprised partner Vasudha Asher, senior associate Sana Nagar as well as associates Shivani Shenoy and Pavit Kaur.
Following news of the the family settlement arrangement, the family group led by Adi Godrej and Nadir Godrej, announced an open offer to public shareholders to acquire stock in Astec Lifesciences.
The ownership realignment involves one of the largest and oldest business houses in India, encompassing multiple operating entities with diversified businesses including listed companies such as Godrej Industries, Godrej Consumer, Godrej Properties, Godrej Agrovet, Astec Lifesciences and unlisted enterprises such as Godrej & Boyce and Godrej Infotech.
