Greenberg Traurig, LLP announced on May 7 that it represented Praana Group in the acquisition of Owens Corning’s glass reinforcements business for an enterprise value of $645 million.
The transaction marks a significant move for Praana Group, an India-based holding group with a global presence in specialty chemicals and advanced materials. The deal expands Praana’s reach into new markets and sectors by adding to its existing portfolio, which includes Galata Chemicals, Artek Surfin Chemicals, Sterling Specialty Chemicals, and 3B Fibreglass. The company serves industries such as construction, automotive, energy, textiles, and consumer sectors.
A multioffice team from Greenberg Traurig led the legal work on the deal. Kalyan “Kal” Das and Adam S. Namoury were the lead shareholders from New York’s Corporate Practice. Dario Ciapponi and Hailey Burton Petrick also participated as associates in New York. Greenberg Traurig acted as lead global antitrust counsel to Praana Group during months of regulatory review across several jurisdictions in Europe and the Americas. All necessary clearances were obtained without remedy commitments.
The Antitrust Litigation & Competition Regulation team included Justin P. Hedge and Stephen M. Pepper in the United States; Robert Gago, Dr. Christoph Enaux, and Dr. Lucas Wüsthof in Europe; along with Miguel Flores Bernés and RocÃo Olea in Mexico.
In total, more than 50 attorneys across 15 offices contributed to this transaction from various practices including banking & financial services, international trade, tax law, intellectual property & technology law, labor & employment law, real estate law, environmental law, immigration & compliance law among others.
The acquisition is part of Praana Group’s ongoing strategy focused on innovation and operational excellence while maintaining commitments to governance quality and sustainable growth.
