Cyril Amarchand Mangaldas advised our client, Tilaknagar Industries Limited (“TIL”), one of India’s leading alcoholic beverage companies on its strategicinvestment in Black Tiger DistilleriesPrivate Limited (“BTD”), an Indian spirits company engaged in tequila and agave spirits under the brand name ‘Bodega’ (the “Transaction”). As part of the Transaction, TIL will invest an aggregate amount of INR 22 crores in BTD by way of subscription to compulsorily convertible preference shares and equity shares. The investment is structured in a staggered manner, with the first tranche resulting in TIL acquiring a 12.5% stake in BTD and the second tranche increasing TIL’s shareholding to 30%.
The transaction was led by Smruti Shah, Partner; with support from Satvi Kulshrestha, Principal Associate; Arunimaa Jaiswal, Senior Associate; and Priyashi Singh, Associate.
Swati Sharma, Partner (Head – Intellectual Property); advised on the IP aspects of the transaction with support from Sannat Chandna, Principal Associate; and Pranav Choudhury, Associate.