“Thermax to acquire 100% stake in Babcock & Wilcox JV: The JV - Thermax Babcock & Wilcox Energy Solutions Private Limited (TBWES) established in 2010 has not succeeded,” reported Eqmagpro.

Babcock & Wilcox India Holdings Inc exited from its joint venture arrangement in Thermax Babcock & Wilcox Energy Solutions Private Limited. As part of its exit, Thermax Limited, the joint venture partner of B&W, acquired 24% of the shareholding of B&W in Thermax Babcock & Wilcox Energy Solutions Private Limited and the remaining 25% shareholding of B&W was acquired by Thermax Babcock & Wilcox Energy Solutions Private Limited through a buy-back arrangement.

Khaitan & Co advised Babcock & Wilcox India Holding Inc led by a team of partner Kalpana Unadkat and senior associate Avantika Govil with assistance from associate Shayak Sircar. The firm advised on the exit strategy, and review and negotiation of the transaction documents.

Update 13 May 2019: AZB & Partners advised Thermax Limited and Thermax Babcock & Wilcox Energy Solutions Private Limited led by a team of partners Ashwin Ramanathan and Roxanne Anderson and lawyer Raina Upadhyay.

Deal value: Confidential

2018-05-21

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