M&A

M&A

Adani Group JV unit to acquire 74% in imported chocolate seller Cococart for Rs.200-Cr

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April Moon Retail Pvt Ltd (AMRPL), a joint venture of Adani Enterprise’s step-down subsidiary Adani Airport Holdings Ltd (AAHL), will acquire a 74% stake in Navi Mumbai-based Cococart Ventures Pvt Ltd (CVPL) for INR 200 crore.CocoCart is an omni-channel retailer and official distributor of Imported chocolates.Under the share purchase agreement (SPA) under the deal, AMRPL will acquire 14,73,518 shares (36.96%) of CVPL’s equity, while under the share subscription agreement (SSA), AMRPL will subscribe to 14,76,471 shares (37.04%) of CVPL’s equity.