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 shareholding in ITC Hotels Limited via an accelerated bookbuild for approximately USD 429 million following the demerger of ITC’s hotels business; the transaction follows BAT’s earlier stake sales in ITC in 2024–2025."

Shardul Amarchand Mangaldas & Co. advised British American Tobacco p.l.c. on the strategic divestment of part of its shareholding in ITC Hotels Limited. The transaction involved the secondary transfer of a significant stake in ITC Hotels Limited 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 comes after British American Tobacco’s prior stake sales in ITC during 2024 and 2025, which were among the largest on-market block deals in India. Shardul Amarchand Mangaldas & Co. also advised BAT on those earlier sales. Shardul Amarchand Mangaldas & Co. represented client British American Tobacco p.l.c. with a team composed by: 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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