Shardul Amarchand Mangaldas & Co Advised British American Tobacco On Divestment Of Stake In ITC Hotels Limited
Shardul Amarchand Mangaldas & Co advised British American Tobacco on divestment of stake in ITC Hotels Limited
The leading law firm in India, Shardul Amarchand Mangaldas & Co. (SAM) advised long-standing client British American Tobacco p.l.c. (BAT) on the strategic divestment of part of its shareholding in ITC Hotels Limited (ITC Hotels) through a secondary transfer executed via an accelerated bookbuild process for an aggregate consideration of approximately USD 429 million.
The transaction involved the offloading of a significant stake held by BAT in ITC Hotels, one of India’s largest hospitality players, following the demerger of the hotels business of ITC Limited (ITC) in early 2025. This follows BAT’s recent stake sales in ITC during 2024 and 2025, which were among the largest on-market block deals in India, on all of which BAT was advised by SAM.
The Shardul Amarchand Mangaldas & Co. (SAM) transaction team was led by Mithun V. Thanks (Partner), along with Manjari Tyagi (Partner), Deepika Goyal (Principal Associate), Shraddha Suryavanshi (Principal Associate), Doorva Tripathi (Senior Associate), and Kashvi Vachhani (Associate).
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