Cyril Amarchand Mangaldas (CAM) advised Adani Energy Solutions Limited (AESL) on investment in a joint venture for smart metering solutions with Esyasoft Holding Limited (Esyasoft). Esyasoft has expertise in building cloud and IoT-based energy management solutions, catering to the energy automation sector.
The Project & Project Finance Practice of Cyril Amarchand Mangaldas advised on the matter. Transaction team was led by Ramanuj Kumar, Partner; with support from Shrey Srivastava, Senior Associate.
As a part of the transaction, AESL through its wholly owned subsidiary, Adani Transmission Step Four Limited (“ATSFL“) has entered into a joint venture agreement with Esyasoft to acquire 49% stake in Adani Esyasoft Smart Solutions Limited (the “JV Company“). JV Company is incorporated in Abu Dhabi. Esyasoft is majority owned by Abu Dhabi-based International Holding Company.
As part of the transaction, EHL will license its IP (intellectual property) portfolio to the JV Company, for deployment by AESL (and its affiliates) in smart metering projects in India and abroad. The JV company will also undertake future product development through teams in India and elsewhere.
Other parties and advisors to the transaction included Al Tamimi & Company (acted as legal counsel for Adani Energy Solutions Limited in relation to laws of United Arab Emirates).
The signing date was 25th December 2023; and closed by 31 December 2023. ____________________________________________
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 and also in Singapore.
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.
