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Grasim Industries closes deal to acquire 97.43% of Aditya Birla Nuvo

Grasim Industries Ltd. on July 1 closed its deal to acquire 97.43% of Aditya Birla Nuvo Ltd. for a transaction value of 532.93 billion Indian rupees (US$8.25 billion).

The company offered 1,862.67 rupees per share for the stake.

In addition to general closing conditions, the deal required additional review for antitrust concerns.

DSP Merrill Lynch Ltd. was the financial adviser for Grasim Industries, and Khaitan & Co. was the legal adviser.

Khaitan & Co. was the legal adviser for Aditya Birla Nuvo.