Cyril Amarchand Mangaldas advised Ad Ports And Special Economic Zone Limited (Ad Ports) on acquisition of 58.10 per cent stake held by DVS Raju and other promoter entities (Promoters) in Gangavaram Port Limited (Gangavaram Port) for Rs 3,604 crore.
Earlier this month, Ad Ports had announced the acquisition of Warburg Pincus group's 31.50 per cent stake in Gangavaram Port. Once the current acquisition receives requisite approvals, Ad Ports will end up owning 89.60 per cent stake in Gangavaram Port.
The General Corporate and Competition Law teams of Cyril Amarchand Mangaldas advised Ad Ports on the Transaction.
The Transaction was led by Smruti Shah, Partner; and Paridhi Ad, Partner, with support from Aviral Chauhan, Senior Associate and Neham Tayal, Senior Associate.
The due diligence team was led by Paridhi Ad, Partner; with support from ket Singha, Senior Consultant; Esha Sanas, Associate; and Rual Chudukattil, Associate.
The Competition Law team was led by Avaantika Kakkar, Partner (Head - Competition), Anshuman Sakle, Partner; with support from Kaustav Kundu, Principal Associate; Ruchi Verma, Senior Associate.
The Transaction is subject to approval from Competition Commission of India.
The Transaction was signed on March 23, 2021 and is expected to be closed by September 30, 2021.
India's Leading Law Firm, Cyril Amarchand Mangaldas was founded on May 11, 2015 and takes forward the values going back 103 years, of the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co. Tracing its professional lineage to 1917, the Firm has over 750 lawyers, including 137 partners, and offices in India's key business centres at Mumbai, New Delhi, Bengaluru, Hyderabad, Chennai and Ahmedabad.
The Firm advises a large, and varied client base that includes domestic and foreign commercial enterprises, financial institutions, private equity funds, venture capital funds, startups and governmental and regulatory bodies.
The Firm received "Law Firm of the Year" award at the Asian Legal Business (ALB) India Law Awards 2020 and "Law Firm of the Year, India" at the Asialaw Regional Awards 2020. The firm was also named as the "Most Innovative National Law Firm of the Year - India for 2020" at the IFLR Asia Awards and voted as the "Employer of Choice for 2020" from India, by the Asian Legal Business.
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( With inputs from ANI )
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