Global law firm K&L Gates has advised CSAPL (Singapore) Holding Pte Ltd (CSAPLH) in its sale of 33.33% shareholding of partner Carlsberg South Asia Pte Ltd (CSAPL) to Carlsberg Breweries A/S.
CSAPL is the holding company for Carlsberg India Private Limited (99.99%) and the business in Nepal, through its shareholding in Gorkha Brewery Private Limited (90%). In addition, as part of the transaction, CSAPL has entered into an agreement to acquire a further 9.94% of the shares in Gorka Brewery.
The transaction closed in Q4 2024 after customary regulatory approvals were obtained and closing conditions were satisfied. Upon completion, Carlsberg Breweries A/S owns 100% of the existing business in India and, through CSAPL’s shareholding in Gorka Brewery, 99.94% of the existing business in Nepal.
The total sale price amounts to US$744 million. Of the US$744 million, US$207 million will be retained by Carlsberg Breweries A/S and will be released dependent on potential claims under the sales and purchase agreement.
The Corporate deal team was led by Singapore Office Chairman and partner M. Rajaram with support from associates Jordan Seah and Jesher Ho.
Mr. Rajaram said: “We were honored to have been able to assist CSAPLH with this unique and highly challenging and complex transaction. Together with local co-counsel and the adept support of the client, the negotiations and overall deal, which commenced and continued during an on-going arbitration and involved companies seated across Singapore, Nepal, and India that had a history of long-standing disputes, was successfully concluded in Q4 2024.
K&L Gates’ Corporate practice is one of the most substantial in the legal industry, with hundreds of lawyers in offices on five continents providing clients with practical legal solutions in the structuring, financing, and completion of domestic, international, and cross-border transactions.
* All Singapore lawyers are members of K&L Gates Straits Law LLC, the Singapore office of global law firm K&L Gates.
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