Majmudar & Partners represented Pelliconi & C. S.p.A., one of the world’s leading manufacturers of crown corks, metal and plastic caps for the bottling industry, on its proposed acquisition of 51% in Oricon Packaging Limited, the subsidiary of Oriental Containers Limited (OCL), which is owned by Oricon Enterprises Limited, the listed flagship company of Parijat Enterprises, engaged in the business of real estate, marine logistics, packaging, petrochemicals and automobile dealership. The proposed acquisition is at an enterprise value of INR419.40 crores (US$64.5 million approximately) of OCL, and is subject to necessary approvals and fulfillment of conditions precedent in the definitive agreements.

Akil Hirani, Managing Partner, and Amrit Mehta, Associate Partner, represented Pelliconi on this transaction as Indian legal counsel, and Pedersoli Studio Legale represented Pelliconi as Italian legal counsel. Phoenix Legal represented OCL and Oricon Enterprises Limited.

Pelliconi was incorporated in 1939 in Italy and has production plants in Italy, Egypt, USA and China. OCL is a leading closure manufacturing company in India, and has plants at Murbad and Goa.