Cyril Amarchand Mangaldas (“CAM“) acted as legal counsel to State Bank of India in connection with term debt of INR 12,000 Crores extended to JSW Sambalpur Steel Limited, for the purpose of part financing its purchase (structured as slump sale on a ‘going concern’ basis) of the steel business undertaking of Bhushan Power & Steel Limited.
The transaction team was led by Arkoday Roy, Partner; with assistance from Abha Mehta, Principal Associate; Karn Taneja, Associate and Sanyam Agarwaal, Associate.
L. Viswanathan, Senior Partner and Amey Pathak, Partner (Head – Banking) provided strategic inputs and overall guidance.
Very informative update! Big-ticket financing deals like this really show how important legal structuring is in major acquisitions. The article explains the transaction in a simple and professional way. Thanks for sharing this valuable insight!