Switzerland’s Mibelle Group has formed a joint venture with Future Consumer Enterprise (FCEL), an integrated food and fast-moving consumer goods company that is part of India’s Future Group. The joint venture, Mibelle Future Consumer Products, will manufacture new personal care products in Switzerland and India and supply them to the Indian market.
The first products with the Swiss-Indian label are expected to be available in India from early 2016.
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Mibelle, part of the Migros Group, focuses on personal care, home care and nutrition. It is also active in the development and management of cosmetic brands.
Khaitan & Co advised FCEL on the joint venture. Partner Haigreve Khaitan, associate partner Mehul Shah, and senior associates Danish Kazi and Aravind Venugopal advised on corporate matters; executive director Daksha Baxi and principal associate Vinita Krishnan advised on direct tax; and executive director Dinesh Agrawal and principal associate Narendra Pati advised on indirect tax issues.
Swiss firm Lenz & Staehelin, led by partner Tino Gaberthuel, advised FCEL on Swiss law aspects of the deal.
Baker & McKenzie in Zürich and Munich advised Mibelle.
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