$400m JSW-Jaiprakash deal: Cyril's Viswanathan, Vaish's Daruwala reap rewards from age-old ties

Wednesday, 20 July 2016 By Legally India Corporate M&A

“Sajjan Jindal-controlled JSW Energy has agreed to acquire a 500 MW thermal power plant located in Madhya Pradesh from Jaiprakash Power Ventures for an enterprise value of ₹2,700 crore in an all-cash deal.” (Hindu Businessline)

Value: Rs 2,700 crore ($402m)

JSW Energy was advised by Cyril Amarchand Mangaldas Mumbai-based infrastructure & project finance partner L Viswanathan and corporate partner Tushar Mavani with New Delhi-based infrastructure & project finance partner Ramanuj Kumar. Competition law advice was given by Mumbai based competition law partner Bharat Budholia.

Jaiprakash Power Ventures was advised by Vaish Associates partner Bomi Daruwala principal associate Yatin Narang, associate Rohan Shrivastava.

The transaction documents were signed on 18 July with the deal expected to close by 31 May 2017.

Both law firms are long-standing advisers to both companies, having for instance also acted on Jaiprakash’s sale of two projects for Rs 9,700 crore in 2014.

Cyril Amarchand Mangaldas Vaish Associates

Comments

Bold 21 Jul 2016, 03:15

+4 -4

And we thought CAM was finished.... Jis school mein Ashwath padha hai, Cyril uska headmaster reh chuka hai.

Headmaster 21 Jul 2016, 13:16

+1 -0

Bhai mere... Jab ek ek master nikal jayenge toh Headmasterji kya karenge baccho ke saath bhai jaan...

And Kian bhai, isko publish karo.... thik hai..

Great 21 Jul 2016, 05:36

+0 -2

Way to go Bharat

hahahaha 21 Jul 2016, 13:19

+2 -0

Bacche ke saath khilwad mat karo...

Headmaster 21 Jul 2016, 10:59

+3 -0

There is a saying which is so apt for CAM - "Insecure leaders never develop people, they replace them"

the wheel 21 Jul 2016, 15:52

Step 1 hire hordes of lawyers who are good ; step 2 think of downsizing step 3 don't fulfill written and verbal - my word is stronger than oak promises step 4 treat people like crap. CAM s Mumbai leaders are the nucleus and they have no vision. The vision of first trying to impress the market with 'we are the largest' and now 'we will focus on profit ' to downsizing and hiring by the hordes - zero vision. Instead of the 3 p s of profitability cam should focus on the 3 p s of people people people. If the lawyers are happy and given their due then the firm will flourish but if there is no care of its people then the organisation is destined to fall into ruin. Surprised cam doesn't care about market reputation or its people.

Arrogance 22 Jul 2016, 06:43

Bhai aapne jo bhi likha na CAM ke bare me usko "arrogance" bolte hai..

Dabbawala 21 Jul 2016, 13:09

+0 -3

Congratulations to LV & Tushar & Ramanuj. Bharat is new shining star. CAM is back to high-fy deals.

hahahaha 21 Jul 2016, 13:18

That is why you are dabbawala... Samajh sakte hai...

Dhakkanwala 21 Jul 2016, 13:32

+4 -1

Hilarious indeed, can't stop laughing. 50 odd corporate partners & CAM has 2 project lads for M&A work :-)

Ricky Shine 24 Jul 2016, 19:53

+0 -0

Hi-fy? Situation is more like do or die. Floor is laughing everyone knows this is an old deal. Ramanuj is the only shining star. Rest are senior partners or inexperienced hands.

Old Deal 21 Jul 2016, 13:37

This was an old deal (being negotiated from past 8 - 10 months i.e. probably before Rau left the ship).

Scooter- 22 Jul 2016, 04:25

ok.

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