KP Group, through its subsidiary Sun Drops Energia Private Limited, has successfully acquired a majority stake in DEK and Mavericks Green Energy Limited. This significant transaction was executed via a share swap arrangement, allowing Sun Drops Energia to obtain shares from existing shareholders under the terms of a Share Swap Agreement.
As part of the acquisition’s consideration, Sun Drops Energia will issue compulsorily convertible preference shares (CCPS) to the selling shareholders. This innovative structure facilitated the smooth transfer of stakes and aligns with the strategic goals of both entities involved.
Legal expertise for this intricate transaction was provided by Sidebar, who advised KP Group and Sun Drops Energia on a range of critical aspects. Their services encompassed the transaction’s structuring, handling of legal and regulatory matters, conducting due diligence, and overseeing the negotiation and finalization of the Share Swap Agreement. Sidebar also managed the documentation process and issues relating to the issuance of CCPS.
The transaction team was spearheaded by Purusharth Singh, the Founding Partner at Sidebar. On behalf of KP Group, Karmit Sheth, the Head of Legal at KP Group of Companies, played a pivotal role in steering the transaction to completion.
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