Saraf and Partners acted for & advised V-Mart Retail in acquisition of 74 retail stores

LE Desk

New Delhi, July 24, 2021: Saraf & Partners acted and advised V-Mart Retail Limited in connection with the acquisition of 74 value-fashion retail stores, owned and operated by Arvind Lifestyle Brands Limited (ALBL), under the brand name ‘Unlimited’, the Law firm has announced. 

The transaction was structured as an asset transfer in an all-cash consideration deal, with the deal size being approximately equivalent to US$ 20.15 million (INR 150 crores), it said.  

The Law Firm assisted V-Mart with the negotiation and execution of the transaction documentation and significant ancillary documents, while offering several inputs on the structuring of the transaction. The Firm also advised extensively on Intellectual Property, corporate compliance, employment and tax aspects of the transaction, S&P said in a press statement. 

The Firm continues to advise and assist V-Mart on post-execution matters and closing, it added.

V-Mart, through this acquisition, has taken its first steps towards expanding its business in West and South India, thus establishing itself as a national powerhouse in the value fashion sector. The transaction furthers V-Mart’s strategy of cluster-based expansion and dramatically reduces the time-span required for an expansion of this scale. The deal also represents one of the earliest efforts of strategic divestment by the Arvind group.

The S&P team comprised Partners Vikrant Kumar and Arjun Rajgopal, assisted by Associates Anina D’Cunha and Abhiroop Saha, under the overall guidance of the Firm’s Founder & Managing Partner Mohit Saraf. Additionally, Partner Gayatri Roy and Senior Associate Saral Minocha and Associate Ayushi Harsh, worked on the IPR aspects of the transaction documents, the statement said.

This is the first M&A transaction obtained and undertaken entirely at Saraf and Partners, in the commencement of its first week, it said.

Saraf & Partners is a new initiative by Mohit Saraf, who had previously been the co-founder at M/s L&L Partners (formerly Luthra & Luthra Law Offices).