In a significant development, the SEBI has recently approved significant regulatory changes to the framework governing the issuance of listed debt securities and non-convertible redeemable preference ...
Acquiring a company by way of a staggered/ tranched acquisition remains a popular method of structuring M&A transactions in the Indian legal landscape. A staggered acquisition involves a strategic investor acquiring a majority stake upfront, leaving (in most instances) the promoters with a minority stake and obligations to run the operations of the company until the acquisition of the entire share capital of the company. While finalising this structuring option, there are a number of factors which require to be navigated in a nimble manner and the drafting and finalising of the definitive documents becomes an intricate task. Through this article, INDUSLAW's Harman Walia and Sanjana Mathur set out certain key aspects that come up and need to be considered during structuring a staggered acquisition of an unlisted company incorporated in India.
