Ducol Organics & Colours Limited (Ducol) has successfully completed the acquisition of  100% equity capital of Bitumag Industries Private Limited (Bitumag), a prominent player in the  waterproofing solutions market. The transaction, valued at INR 397 million, was finalized through a share  purchase agreement with Optichem Specialties FZE.

This transaction marks Ducol’s strategic entry into the construction chemicals and waterproofing domain.  The acquisition is aimed to result into significant operational synergies and help Ducol diversify its product  portfolio. The acquisition was structured as a 100% equity purchase, with Ducol acquiring the entire share  capital of Bitumag.

ALMT Legal played a pivotal role as legal advisors to Ducol in the successful completion of the transaction  by offering full-spectrum legal advisory services across all phases. ALMT Legal conducted an exhaustive  legal due diligence aimed at uncovering potential legal risks and providing suitable recommendations. ALMT Legal was instrumental in the drafting, negotiating and finalizing the definitive agreement, ensuring  that the terms accurately reflected the commercial understanding between the parties while safeguarding  their client’s interests. ALMT Legal also provided comprehensive regulatory advisory support, guiding the  client through applicable legal and compliance obligations. ALMT Legal remained actively involved  through the final stages of the transaction, overseeing the fulfilment of conditions precedent and ensuring a seamless and timely closing of the transaction.

The transaction team at ALMT Legal was led by Statira Ranina (Senior Partner) and Vaishakh Kapadia  (Partner), ably supported by Amishi Vira (Senior Associate) and Natiana Godinho (Associate).