Shardul Amarchand Mangaldas Advises British American Tobacco on Strategic Divestment of Stake in ITC Hotels Limited

"Shardul Amarchand Mangaldas & Co. advised British American Tobacco p.l.c. on the strategic divestment of part of its stake in ITC Hotels Limited via an accelerated bookbuild, generating approximately USD 429 million. The sale follows ITC's hotels demerger and BAT's major 2024–25 share disposals."

Shardul Amarchand Mangaldas & Co. advised its long-standing client British American Tobacco p.l.c. on the strategic divestment of part of its shareholding in ITC Hotels Limited. The transaction involved a secondary transfer of a significant stake in ITC Hotels executed through an accelerated bookbuild process for an aggregate consideration of approximately USD 429 million. The sale follows the demerger of the hotels business of ITC Limited in early 2025 and complements BAT’s recent stake sales in ITC during 2024 and 2025, which were among the largest on-market block deals in India; Shardul Amarchand Mangaldas & Co. advised BAT on those transactions as well. Shardul Amarchand Mangaldas & Co. represented British American Tobacco p.l.c. with a transaction team led by Mithun V. Thanks (Partner) and comprising: Mithun V. Thanks (Partner), Manjari Tyagi (Partner), Deepika Goyal (Principal Associate), Shraddha Suryavanshi (Principal Associate), Doorva Tripathi (Senior Associate) and Kashvi Vachhani (Associate).

Shardul Amarchand Mangaldas Advises British American Tobacco on Strategic Divestment of Stake in ITC Hotels Limited

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