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CAM on Essar's $560m mega delisting

Cyril Amarchand Mangaldas advised Essar Oil on its $559m (Rs 3,745 crore) delisting of shares from stock exchanges.

CAM managing partner Cyril Shroff, Mumbai corporate partner Ravi Kumar and partner designate Anchal Dhir acted for Essar oil on this largest Indian delist offering in terms of its payout to investors.

The company is expected to announce a delisting price of Rs 262.8 per share due to LIC’s decision to hike the price by nearly 10 per cent, which will lead the promoters - Ruias - to pay more to investors, reported the Times of India.

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