Japan's Aica Kogyo Buys 53% Stylam Industries for $225M

INDUSTRIAL-GOODSSERVICES

Overview

Japanese firm Aica Kogyo Company has acquired a majority stake of up to 53.12% in Indian manufacturer Stylam Industries Limited for approximately $225 million through secondary purchases. The deal triggers a mandatory open offer to public shareholders. Legal advisory was provided by Shardul Amarchand Mangaldas & Co and Khaitan & Co.

Japanese Firm Aica Kogyo Secures Majority Stake in Stylam Industries

Japanese chemical and building materials manufacturer Aica Kogyo Company, Limited has acquired a controlling stake of up to 53.12% in India-based Stylam Industries Limited. The transaction, valued at approximately $225 million, was executed through secondary purchases from existing promoters of Stylam Industries.

Regulatory Compliance and Open Offer

The acquisition triggers a mandatory open offer to Stylam Industries' public shareholders, as per the SEBI Takeover Regulations. This ensures that all remaining shareholders have an opportunity to sell their stakes.

Legal Counsel Navigates Complex Deal

Shardul Amarchand Mangaldas & Co advised Aica Kogyo on the entire transaction, including structuring, regulatory analysis under securities and foreign exchange laws, legal due diligence, and drafting of all transaction documents. Khaitan & Co represented certain promoters of Stylam Industries on their sale of shares.

Aica Kogyo's Business Scope

Aica Kogyo primarily engages in the manufacture and sale of chemical products and building materials. Its product portfolio includes interior and exterior finishing materials, flooring, adhesives, and organic solids, indicating a strategic expansion into the growing Indian market.

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