Herbert Smith Freehills has advised India-based Godrej Consumer Products Limited on its acquisition of 51% of the artificial hair manufacturing and distribution business of the Darling Group in Kenya, following similar acquisitions in South Africa, Mozambique and Nigeria in 2011, on which Herbert Smith also advised.
Godrej is a large family owned conglomerate based in Mumbai and its consumer goods division, Godrej Consumer Products Limited, is listed on the Bombay Stock Exchange. With existing international operations in South East Asia and Latin America, it is targeting expansion in developing countries and continents and this acquisition supports that strategy.
The Herbert Smith Freehills team was led by London-based Corporate partner Gavin Davies, supported by associates Jennifer Coote, Gareth Sykes and Isla Wood, and by Chris Parsons, chair of the Herbert Smith Freehills India Practice. Anjarwalla & Khanna provided Kenyan law advice to Godrej.
The owners of the business were advised by Dechert LLP led by partners Camille Abousleiman and Simon Briggs and senior associate Rebecca Flanagan, and Amin & Co, Advocates on Kenyan law issues.
Gavin Davies commented: “Described by The Economist as a ‘mini Unilever’, Godrej is one of India’s leading consumer goods companies and an important client for our India practice. We are delighted to have again assisted them as they continue to expand across Africa.
“It is another example of the importance of Africa as an investment destination across our international client base, beyond the traditional energy and natural resource players. There is an exciting consumer growth story ahead in Africa, and clients are seeking to capitalise on the opportunities.”
The firm’s recent announcement of its intention to open an office in Guinea early next year is the culmination of our three decades experience advising corporate and project clients in Africa. Other key recent credentials of the Herbert Smith Africa Practice include Bharti Airtel on its US$10.7 billion acquisition of the 15 African mobile networks of Zain Africa; Rio Tinto on numerous aspects of the Simandou iron ore integrated project in Guinea; GDF Suez on the development of an LNG terminal project in Cameroon; and Eurasian Natural Resources Corporation in relation to the US$2 billion damages claim by First Quantum regarding ENRC’s acquisition of an interest in the Kolwezi Tailings Project in the Democratic Republic of Congo.
