CAM, SAM, Herbies, Jones Day on $102m Engineers India disinvestment

Friday, 5 February 2016 By Prachi Shrivastava Capital Markets

Cyril Amarchand Mangaldas and Herbert Smith Freehills (HSF) advised the finance ministry on the disinvestment of 10 per cent stake in Engineers India (EIL), through an Offer for Sale (OFS). Shardul Amarchand Mangaldas and Jones Day advised the brokers SBICAP Securities, ICICI Securities, Edelweiss Financial Services and Deutsche Equities India.

CAM managing partner Cyril Shroff and Delhi partners Aarti Joshi and Gokul Rajan and HSF Singapore partner Siddhartha Sivaramakrishnan acted for the Department of Disinvestment of the Ministry of Finance.

SAM Delhi partners Prashant Gupta and Sayantan Dutta and Jones Day Singapore partner Manoj Bhargava acted for SBICAP, ICICI, Edelweiss and Deutsche Equities India.

This is the government’s first disinvestment in five months reported the *Business Standard adding that the OFS is likely to fetch around Rs 692 crore.

Comments

ABCs 7 Feb 2016, 12:16

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How much do law firms make on these deals

Lexpert 7 Feb 2016, 12:26

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Excellent question, ABCs. Usually the Government counsel on such deals charges a nominal fee - it's the prestige of acting for the Govt/ PSU. The bankers' counsel might be making something better, but not by much I daresay..

kianganz 8 Feb 2016, 07:00

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Indeed. Here's a bit more info on that from a few years ago: http://www.legallyindia.com/201006251026/Analysis/anatomy-of-the-new-disinvestments-tenders-near-zero-fees-for-lawyers-or-boon-for-competition

guestyyy 7 Feb 2016, 12:36

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2 rupees!!

Av 7 Feb 2016, 14:11

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even foreign firms?

betabahu 8 Feb 2016, 06:56

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the law firm has a v min rule in such an offer for sale. still it is a good thing to be on such a deal than not.

Tosh 9 Feb 2016, 11:15

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The bids are public. Didn't CAM quote 20,000 INR on this one. Possibly one hour of Cyrils time the price at which this deal was done. Sad that Cyril has to now compete with the likes of a Prashant Gupta and shows that all is not well with Yash who is head of capital markets not working with Delhi. I wonder how much of this Kian will censor. Also twice as interesting is the massive exit of Holcim Lafarge and sale of Lafarge's India operations sanctioned by the CCI and covered by every newspaper not being covered by LI today as Ashwath and Uberoi and not Cyril is doing that.Such Cyril Shroff (not Amarchand) boy Kian!!!:)

Av 9 Feb 2016, 19:29

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If bids are public, can you pls paste weblink?

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