AZB with Adani in-house do Lanco’s $1bn Udupi Power station sale

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Monday, 8 September 2014 By Legally India Corporate M&A

AZB & Partners advised the Lanco Infratech on selling, for over Rs 6,000 crore ($995m), its stake in Udupi Power Corporation to Adani Power, which was advised in-house.

AZB partner Yashwant Mathur, senior associates Namrata Vishwanath, Esha Pruthi and associates Abhyudai Singh and Shridha Malhotra acted for the Lanco Group.

Adani vice president legal Harsh Mishra led the deal for Adani Power, who confirmed that the deal was handled without external advisers.

Adani will pay Rs 2,000 crore in cash and take on Rs 4,000 crore in long-term debts of Lanco for the 1,200 megawatt coal-powered fire station.

This is Adani’s second major buy since its Dhamra Port acquisition four months ago, reported Mint.

AZB & PartnersAdani

Comments

Congrats 8 Sept 2014, 11:46
+2 -0
Congrats AZB, Gurgaon for your first reported deal ;) Calls for a party.
flying fish 8 Sept 2014, 11:58
+4 -4
Wasn't LAnco amss mum client atleast tll its hq was mum? Then lanco. hq went to del and then amss del cdn't manage to attract/keep lanco? Amss del is terrible with private Indian big corporates even n ncr market where fewer massve and/old old firms operate. We don't see it unless some sarkari liasing eg cci fipb req in deal. Cap marks is an exception they do hv a good cap marks team.
Scooter- 9 Sept 2014, 05:51
+0 -0
Is Harsh Mishra VP-legal? dont think so.
Lex Jurists 9 Sept 2014, 08:24
+0 -0
Congratulations Yashwant
Lanco 9 Sept 2014, 09:55
+0 -0
Of course Lanco was with AMSS Del for a long time, but the persons handling Lanco started leaving, and then, so did Lanco.
Scooter- 9 Sept 2014, 10:24
+0 -0
its more to do with conflict than clients leaving.
pseudo lawyer 9 Sept 2014, 13:31
+0 -0
Adani did not rope in AMSS, Mum??
flying fish 10 Sept 2014, 02:56
+0 -0
Who left with Lanco? I don't think that's correct. I thought AMSS Del mostly has clients which stay with the firm and not leave like tiffn-boxes when employees leaves. Atleast big fish clients.
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