J Sagar Associates has acted for India’s Reliance Infrastructure on the 188-billion-rupee ($2.65 billion) sale of its Mumbai power generation, transmission, and distribution business to a unit of Adani Enterprises, which was represented by Cyril Amarchand Mangaldas
Meanwhile, L&L Partners was the sole legal counsel to the consortium of lenders who funded the acquisition and refinancing of the debt of Reliance Infrastructure.
Reliance Group has previously announced plans to invest an undisclosed amount in its recently started aerospace defence manufacturing business as well as in its engineering, procurement, and construction businesses, said Reuters. It added that Adani Transmission Ltd, the power distribution arm of Adani Enterprises, will pay an initial 132.51 billion rupees for Reliance’s Mumbai power business and 55.50 billion rupees at a later date based on certain approvals.
The JSA team was led by joint managing partner Dina Wadia and partner Manav Raheja. The competition law team was headed by partners Amitabh Kumar and Vaibhav Choukse.
The Cyril Amarchand Mangaldas team was headed by managing partner Cyril Shroff along with partners Nivedita Rao, Ravi Kumar, Saurya Bhattacharya and Subhalaksmi Naskar. Partner Anshuman Sakle advised on competition law, while infrastructure partner Ramanuj Kumar led on the financing and partner Aarti Joshi advised on the due diligence.
The L&L Partners team was led by partners Bikash Jhawar and Rohit Raghavan.
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