Top-tier law firms Trilegal, Linklaters, AZB, and Slaughter & May have been enlisted for the over ₹1000 crore acquisition of Morgan's business by Vesuvius.
In a significant move, Vesuvius plc, a global leader in metal flow engineering, has announced the acquisition of the India molten metals systems business of Morgan Advanced Materials plc for approximately ₹1,084 crore.
The acquisition, structured as an acquisition of Morgan's 75% shareholding in its Indian listed subsidiary, Morganite Crucible (India) Ltd (MCIL), by Vesuvius' Indian listed subsidiary, Foseco India Ltd (FIL), is set to strengthen Vesuvius' position in the steel and foundry industries.
Legal advisors played a crucial role in the transaction. Trilegal advised Vesuvius on this acquisition, with Ashwyn Misra, Deep Choudhuri, and partners Kanishka Maggon and Sampath Kumar leading the team. Slaughter and May served as the international legal counsel for Morgan Advanced Materials, with Christian Boney, Simon Nicholls, and Aman Jain (Partner) playing key roles.
The consideration for the acquisition is the issuance of new FIL shares to Morgan group shareholders in MCIL. Linklaters served as the international legal counsel for Vesuvius in this matter. AZB & Partners advised Morgan Advanced Materials on the transaction, with Sumit Mangal, Harpreet Singh Ajmani, Radhika Sharma, Ashish Sarda, and Meghna Mittal handling the tax-related aspects.
The transaction team from Trilegal also included Shivam Khanna, Srishti Kaushal, Ananya Dhawan, Sanjana Bhargava, Hansika Chopra, and associates Teeshta Bissa, Jatin Sharma, Shebani Bhargava, Isha Sen, Medha Nagpal, Anuraag Pillai, and Niti Gosrani.
This strategic move is expected to create synergies and opportunities for growth for both companies in the Indian market. The deal is a testament to Vesuvius' commitment to expanding its business in the molten metals systems sector.
