Introduction to the Acquisition
A strategic consortium formed by Apollo Global Management, Inc. and Tega Industries Limited has successfully acquired Molycop, a prominent global supplier in the mining industry’s grinding media sector. The transaction, valued at $1.45 billion, marks a significant move from American Industrial Partners, the previous owner.
Legal Advisors Involved in the Deal
Argus Partners played a crucial role in advising Tega on the consortium arrangements with Apollo, as well as on the comprehensive acquisition process. The team was spearheaded by Krishnava Dutt, Managing Partner, with key contributions from Partner Armaan Patkar, Principal Associate Jaidrath Zaveri, and Associates Kanishk Gambhir, Vishakha Somani, and Srishti Solanki. Anti-trust advice was provided by Partner Adity Chaudhury, supported by Associates Anika Sharma, Anoushka Mani, and Suvanwesh Das.
Shardul Amarchand Mangaldas & Co offered legal counsel to Apollo on the consortium arrangements with Tega and the overall acquisition. The team included Partner Gunjan Shah, Partner Nirmal Mahatani, Principal Associate Siddharth Damle, and Associate Oorja Chari. Competition law aspects were addressed by Partner Rohan Arora, with Associates Vasudha Verma and Arjav Kulshrestha.
International Legal Assistance
Latham & Watkins contributed to advising Apollo on consortium arrangements and the acquisition. The international team was led by Partner James Clayton-Payne in Singapore, with Partners Justin Rosenberg (NY), Nicholas Luongo (Washington D.C.), and Marc Granger (Washington D.C.). Financial guidance was provided by Partners Manu Gayatrinath and Melissa Fabian (Washington D.C.), tax guidance by Partner Katharine Moir (Silicon Valley), ESG matters by Partner Joshua Marnitz (LA), DTT issues by Partner Morgan Brubaker (Washington D.C.), real estate matters by Partner Dara Denberg (NY), and antitrust issues by Partner David Brenneman (Washington D.C.).
Seller’s Legal Counsel
Khaitan & Co advised the seller, American Industrial Partners, on structuring the transaction and finalizing documentation. The team was led by Partner Ashwin Bishnoi, with Senior Associate Amanee Kadakia and Associate Pranshu Gupta. Securities law aspects were managed by Executive Director Sudhir Bassi, Partner Abhishek Dadoo, and Senior Associate Gaurang Mansinghka, while tax law aspects were handled by Partner Rahul Jain and Senior Associate Jinisha Jain. Pranjal Prateek, Partner, provided guidance on anti-trust law.
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Additional Legal Support
Ropes & Gray served as legal counsel, and Baker Botts acted as regulatory counsel for Molycop and American Industrial Partners, ensuring comprehensive legal compliance and support throughout the acquisition process.
Impact of the Acquisition
This acquisition positions Tega Industries as a formidable entity within the mining sector, granting them access to Molycop’s extensive manufacturing platform, which includes 26 facilities globally.
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