Demarest advise Alpha Wave on the acquisition of stake in Advanta
Demarest advised, under the coordination of lead Indian counsel Shardul Amarchand Mangaldas & Co., and together with counsels Marval O’ Farrell Mairal (Argentina); Dentons (Mauritius); Tilleke & Gibbins (Thailand); Herbert Smith Freehills (Australia), the client Alpha Wave Global, a leading global investment firm, on the signing of definitive agreements under which Alpha Wave will invest US$ 350 million to acquire approximately 12.5% stake in Advanta Enterprises Limited.
Advanta is a subsidiary of UPL Limited and a leading global seed company that delivers innovative farming solutions and technology to farmers around the world.
The transaction is subject to customary closing adjustments and regulatory approvals. The transaction is a combination of a primary investment of US$ 100 million and a secondary sale of shares of US$ 250 million in Advanta by UPL.
Alpha Wave will make its investment from its Alpha Wave Ventures II fund, which invests in leading global businesses with a robust competitive advantage.
The primary proceeds will be used to advance Advanta’s growth through organic and inorganic initiatives, capitalizing on its superior competitive positioning and robust tailwinds within the global seeds industry.
The secondary proceeds will be utilized by UPL to deleverage its balance sheet in alignment with its articulated financial objectives. This transaction marks the second investment by a global investor in Advanta, following a US$ 300 million investment by global investment firm KKR in October 2022.
Advanta is a leader in the global seeds industry, dedicated to sustainable agricultural practices and enhancing farmer prosperity through the sale of high-quality hybrid seeds. With a presence in over 80 countries, Advanta develops innovative seed technology solutions that address climate challenges and improve crop yields. Advanta’s diverse portfolio includes corn, sorghum, sunflower, canola, rice, and various vegetables, catering to smallholder farmers and commercial farming operations across all five continents, in both developing and developed markets.
AZB & Partners law firm in India advised UPL, which had JM Financial Limited acting as a sole and exclusive financial advisor to UPL & Advanta for this transaction.
Demarest relied on led partner Lucas Tavares (pictured); partners Daniel O. Andreoli, Fernanda Stefanelo, Renato Canizares; associates Beatriz Marino,Gustavo Alcantara Rizkallah, Joao Godoy, Luiza da Camara Chaves, Monique Guzzo, Pedro Galani Vasconcelos, Raphael Póvoas, Sofia Prado.
Also involved in this transaction:
Shardul Amarchand Mangaldas & Co. (Alpha Wave)
Marval O’ Farrell Mairal (Alpha Wave)
Dentons (Alpha Wave)
Tilleke & Gibbins (Alpha Wave)
Herbert Smith Freehills (Alpha Wave)
AZB & Partners (UPL).
