Shardul Amarchand Mangaldas & Co acted as the legal advisor to Vardhman Textiles Limited in relation to the sale of its 40% stake in Vardhaman Yarns and Threads Limited to its U.S. based joint venture partner American & Efird Global, LLC (A&E Global). Vardhman Yarns and Threads Limited is India’s second–largest manufacturer and distributor of premium quality industrial and consumer sewing thread.

Shardul Amarchand Mangaldas & Co Team is advising Vardhman Textiles on all aspects of the transaction, including on Competition Law related approvals required for the transaction. The M&A Team was led by Gunjan Shah,Partner and was assisted by Anuj Trivedi, Principal Associate and Vipin Sharma, Associate. The Competition Law team is being led by Manika Brar, Partner and includes Rohan Arora, Senior Associate, and Karan Latayan, Associate.

As a part of the transaction, definitive agreements have been entered into between A&E Global, Vardhaman Textiles and Vardhman Yarns and Threads, for acquisition by A&E Global of additional 40% equity shareholding in Vardhman Yarns and Threads Limited from its joint venture partner, Vardhman Textiles Limited . Upon completion of the transaction, A&E Global will own 89% of the joint venture and Vardhman Textiles will own the other 11%.

The Firm has more than 390 lawyers, including 70 partners at its offices in six cities across India, which include – New Delhi, Mumbai, Gurgaon, Ahmedabad, Bengaluru and Kolkata.