Cyril Amarchand Mangaldas has advised NTPC, India’s largest power generating utility, on a 115-billion-rupee ($1.5 billion) acquisition of a stake in THDC India Limited (THDCIL) and North Eastern Electric Power Corporation (NEEPCO).
Trilegal advised the Department of Investment and Public Asset Management (DIPAM) on the liquidation of NEEPCO.
The transaction is one of the largest disinvestments in the country for the financial year 2019-2020, and is a significant step towards achieving India’s disinvestment targets for this period.
THDCIL operates hydro and wind power projects, including the Tehri dam in Uttarakhand while NEEPCO’s main operations are in the northeastern region of India through a combination of hydro, thermal and solar power stations.
The CAM team was led by partners Sourav Biswas, Spandan Biswal, Ramanuj Kumar and Anshuman Sakle.
Meanwhile, the Trilegal team was led by partners Ramakant Rai and Soumya Hariharan.
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