Khaitan & Co advises Standard Chartered Bank on proposed equity share subscription

Khaitan & Co has advised Standard Chartered Bank (manager to the offer) in relation to Wilmar Sugar Holdings Singapore, which proposes to subscribe to equity shares of Shree Renuka Sugars (‘Target’) aggregating to a maximum of 27.5 per cent through preferential allotment.

It has entered into agreements with the Target and its promoters, which has resulted in the open offer to acquire up to 26 per cent emerging voting capital of the paid-up equity shares of the Target for a total consideration of $169m (£100m) (subscription and open offer).

Executive director Sudhir Bassi and partner Arindam Ghosh advised Standard Chartered Bank.