Cyril Amarchand Mangaldas acts as transaction counsel for merger by absorption of REC Ltd. into Power Finance Corporation Ltd.
The Proposed Merger shall create a financing entity with an aggregate loan book of over INR 11 lakh crore, and the combined entity is valued at approx. INR 2.42 lakh crores. The deal involved extensive discussions with the Ministries and other governmental authorities for finalisation of the scheme and overall structuring of the Proposed Merger.