J. Sagar Associates advised Air Water Inc. (AWI), a Japanese entity in its acquisition of a majority stake in Ellenbarrie Industrial Gases Limited (Target Company), a company listed on the Calcutta Stock Exchange. Post completion of the open offer process, AWI holds 51% in the Target Company for approximately INR 1.06 billion.

The Target Company is engaged in the business of manufacture and trading of industrial gases and provides ancillary products and services.

Due to the complex nature of the transaction, various teams within JSA were involved in advising AWI.

The JSA M&A team comprised Partners Somasekhar Sundaresan, Upendra N. Sharma, Vikram Raghani, Sidharrth Shankar &Pallavi Puri; Senior Associates Anand Lakra & Nischal Reddy; and Associates Shantanu Jindel & Garima Jhunjhunwala.

The JSA Competition Law team comprised Partner Amitabh Kumar and Senior Associate Gautam Shahi.