“Canadian pension fund, Caisse de dépôt et placement du Québec has agreed to acquire a 40% stake in power producer CLP India Pvt. Ltd for Rs 2,640 crore ($365m) in cash”, reported VC Circle. Post the acquisition by CDPQ from the subsidiary CLP GPEC (Mauritius) Holdings, CLP will retain 60% stake in the Indian unit.

Cyril Amarchand Mangaldas acted as the Indian legal counsel to CDPQ Infrastructures Asia II, according to its press release.

Trilegal was the Indian legal advisor to CLP India in the transaction.

Shearman & Sterling were the international legal advisors to CDPQ.

PricewaterhouseCoopers represented as the tax advisors to CDPQ.

King & Wood Mallesons acted as the international legal advisor to CLP India and CLP Holdings in the acquisition.

Venturing into India in 2002, CLP is considered among the handful of foreign investors in the country, holding a broad generation portfolio of projects with total generation capacity of 3,000 MW with its recent focus being on expanding its low-carbon business.

2018-09-13

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