Cyril Amarchand Mangaldas has advised a Japanese consortium comprising Osaka Gas, the second-largest city gas distributor in Japan, Sumitomo Corporation, one of Japan’s largest trading houses, and Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development(JOIN), a Japanese government-private sponsored infrastructure investmentfund,on its primary investment into AG&P LNG Marketing Pte. Ltd (AG&P)..
AG&Pis an important energyplayer in Indiawith a City Gas Distribution (CGD)network covering 28 districts across India pursuant to aurthorisations granted by the Petroleum and Natural Gas Regulatory Board of India. AG&Phasinvestmentsin THINKGas,which holds 7GAs mainly in north-centralIndia, andAG&PPratham, which holds 12 GAs mainly in southern India.
CAM advised on Indian regulatory requirements for the Japanese consortium’s investment. conducted due diligence on Indian entities involved in City Gas distribution business, including advising on PNGRB regulations. Firm also provided support on Indian law aspects of the transaction documents.
The Project & Project Finance team of Cyril Amarchand Mangaldas advised on the transaction. The transaction team was led by Ajay Sawhney, Partner; Aditi Misra, Partner; with support from Angira Chakraborty, Senior Associate; and Aditya Prakash, Senior Associate; Ragini Agarwal, Associate; Siddharth Rana, Associate; Ashish Jain, Associate; Aeruva Akash, Associate; and Yathansh Joshi, Associate; who helped in due diligence of the Indian companies.
Sreetama Sen, Partner; with support from Nooreen Haider, Principal Associate; and Bhadra Nair, Associate; assisted on due diligence covering corporate aspects.
Ankita Ray, Partner; with support from Akshat Sahajpal, Senior Associate; Anushka Dua, Associate; assisted on due diligence of employment related aspects.
Kranti Mohan, Partner; and Janhavi Seksaria, Partner with support from Saloni Tyagi, Senior Associate advised on InVIT and IPO related aspects of the deal.
Vijay Chauhan, Partner; with support from Rajat Sharma, Associate; Jaibir Bindra, Associate; advised on competition law aspects of the deal.
Kapil Arora, Partner; assisted on disputes and on white collar law related aspects.
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About Cyril Amarchand Mangaldas
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. The Firm generalists,specialists and senior ex-regulators expertly guide clients across a spectrum of transactions,sectors and regulations. The Firm is one of the largest full-service law firm in India and offices in key business centers at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City, Singapore and Abu Dhabi.
The Firm received “National Law Firm of the Year: India” at the IFLR Asia-Pacific Awards for the second consecutive years in 2023 and 2022 and “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2022.
