HIL has acquired the entire shareholding of Germany’s Parador Holdings from existing shareholders NORD Holding, Deutsche Mittelstandsholding, Lubert Winnecken and Hendrik Voß for €72.3 million (US$84 million).
“We advised HIL on key structuring aspects from an Indian legal and tax perspective as the acquisition will involve payment of purchase consideration to the sellers against sale of shares as well as repayment of loans [used] by the target entity’s group,” said Niren Patel, a partner at Khaitan & Co, which advised HIL.
Patel told India Business Law Journal that the proposed acquisition was in accordance with a bid process undertaken by Parador’s shareholders.
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