Cyril Amarchand Mangaldas (“CAM”) advised JSW Energy Limited (“JSW Energy”) in relation to its acquisition of 8.33% (34,69,59,135 equity shares) shareholding on a fully diluted basis in Toshiba JSW Power Systems Private Limited (“Target Company”) from Toshiba Corporation for an aggregate consideration of INR 150 crore (“Transaction”). The Target Company is engaged in the manufacturing, maintenance, and servicing of mid-to-large-size (500 MW — 1,000 MW) supercritical steam turbine generator (“STG”) units in India. Post-acquisition, JSW Energy’s shareholding in the Target Company shall increase to 10.73% on a fully diluted basis.
The transaction team was led by Ramanuj Kumar, Partner (Co-Head – Projects (Energy & Energy Transition)); and Aiswarja Mohanty, Partner; with support from Kumar Mangalam, Senior Associate
The legal due diligence team was led by Ramanuj Kumar, Partner (Co-Head – Projects (Energy & Energy Transition)); and Aiswarja Mohanty, Partner; with support from Kumar Mangalam, Senior Associate; Megha Mehta, and Rashika Bhardwaj, Associates.
