Cyril Amarchand Mangaldas and Norton Rose Fulbright advised Chubu Electric Power Co., Inc (Chubu), through its wholly owned subsidiary, has entered into a share subscription agreement to acquire 25.1% stake in OMC Power Private Limited (OMC Power). Chubu will be utilizing it’s comprehensive insight in power transmission and distribution for improvement of the generation facilities.
The General Corporate and Projects Practice of Cyril Amarchand Mangaldas assisted Chubu on conducting the due diligence, regulatory advisory and negotiating the deal alongside the Norton Rose team. The transaction was led by Sangita John, Partner; Manan Mehta, Partner; with support from Nandita Menon, Principal Associate; Shweta Sriram, Principal Associate; along with Aleesha Jadhav, Senior Associate –Designate; Samiya Zehra, Associate; and Sampurna Kanungo, Associate.
As a part of the Transaction, Chubu would acquire the stake in OMC Power by way of subscription to equity shares and Series C CCPS.
Other Parties and Advisors to the transaction included Norton Rose Fulbright (Acted as International law firm to Chubu).
The Transaction value is approximately USD 39 million.
The Transaction was signed on 31st May, 2022 and is subject to anti-trust filings (EU and China) and lender consents.
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. With 1000 lawyers and 160 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. 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 2021.
