K&L Gates Advised CSAPLH On $744 Million Carlsberg Stake Sale
Global law firm K&L Gates has advised CSAPL (Singapore) Holding Pte Ltd (CSAPLH) on the sale of its 33.33% stake in Carlsberg South Asia Pte Ltd (CSAPL) to Carlsberg Breweries A/S.
CSAPL is the holding company for Carlsberg India Private Limited (99.99%) and also holds a 90% stake in Gorkha Brewery Private Limited in Nepal. As part of the transaction, CSAPL has entered into an agreement to acquire an additional 9.94% of Gorkha Brewery’s shares.
The transaction was finalized in Q4 2024 after obtaining customary regulatory approvals and meeting all closing conditions. Upon completion, Carlsberg Breweries A/S now owns 100% of the business in India and, through CSAPL’s shareholding in Gorkha Brewery, 99.94% of the business in Nepal.
The total sale price amounts to $744 million. Of this amount, $207 million will be retained by Carlsberg Breweries A/S and released depending on potential claims under the sales and purchase agreement.
The Corporate Deal Team at K&L Gates was led by Singapore Office Chairman and Partner M. Rajaram, with support from Associates Jordan Seah and Jesher Ho.
M. Rajaram stated: “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.”