Cyril Amarchand Mangaldas advised JSW Energy Limited on acquiring an 8.33% stake in Toshiba JSW Power Systems Private Limited for INR 150 crore. The deal involved purchasing 34,69,59,135 equity shares from Toshiba Corporation and marked a investment for JSW Energy.
Cyril Amarchand Mangaldas (CAM) advised JSW Energy Limited (JSW Energy) in connection with its acquisition of an 8.33% stake (34,69,59,135 equity shares) 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 involved in the manufacturing, maintenance, and servicing of mid-to-large capacity supercritical steam turbine generator (STG) units in India, with each unit in the 500 MW to 1,000 MW range.
Following the acquisition, JSW Energy’s shareholding in the Target Company is expected to 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 also 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.
Cyril Amarchand Mangaldas (CAM) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies.