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Shardul Amarchand Mangaldas & Co. (SAM & Co.)

Shardul Amarchand Mangaldas & Co. Advises on Purchase of Power on Captive Basis by Prism Cement Limited from BLA Power Private Limited

Jun 21, 2016   17:47 IST 
New Delhi, Delhi and Mumbai, Maharashtra, India

Shardul Amarchand Mangaldas & Co (SAM & Co) advised on Prism Cement limited on the acquisition of 15.23% stake in BLA Power Private Limited for Rs. 25 Crore. Following the transaction Prism Cement will be able to acquire power from BLA Power on captive power plant basis.

 

Shardul Amarchand Mangaldas & Co Teamadvised Prism Cements on all aspects of the transactions, including drafting/reviewing of the power sale agreement, framework and security deposit agreement, subscription agreement, shareholders agreement, escrow agreement and ancillary documents.The Projects Team was led by Deepto Roy, Partner, and included Mr. Jay Parikh, Partner; Ms. Vishaka Prasad, Principal Associate; Ms. Anjali Viswamohanan, Associate.

 

As a part of the transaction, the Shardul Amarchand Mangaldas & Co team advised Prism Cement Limited on structuring of the transaction, from investment and electricity law perspective, for the purchase of power by Prism Cement Limited on a captive basis from BLA Power Private Limited. Under this arrangement, Prism Cements acquires 15.23% stake in BLA Power Private Limited, such that its shareholding constitutes at least 26% (twenty six percent) of the proportionate equity of BLA related to Unit-1(out of its 3 Units of 45 MW each) to enable Prism Cement Limited to qualify as a captive consumer of power from such Unit.

 

The parties involved in the transaction were Prism Cement Limited (our client); BLA Power Private Limited; BLA Power Holding Private Limited

 

The deal was signed on June 6, 2016.

 

About Shardul Amarchand Mangaldas & Co

Shardul Amarchand Mangaldas is one of India’s leading full service law firms. Founded on almost a century of legal achievement, Shardul Amarchand Mangaldas reconstituted in May 2015. Its mission is to ‘enable business by providing solutions as trusted advisors through excellence, responsiveness, innovation and collaboration’.

 

The Firm is known for its exceptional Merger & Acquisition, Private Equity, Competition Law, Dispute Resolution, Capital Markets and Project & Project Finance practices globally.

 

The Firm has been at the helm of major headline transactions and litigation in all segments of industry, besides advising major multi-national corporates on their entry into India and their business strategy.

 

The Firm has more than 430 lawyers, including 70 partners at its offices in six cities across India, which include – New Delhi, Mumbai, Gurgaon, Ahmedabad, Bengaluru and Kolkata. 


 
 
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