Amarchand & Mangaldas has been engaged by the issuer company, whereas Linklater’s best friend Talwar Thakore & Associates would act for the underwriters on India related legal work, according to the UK's The Lawyer magazine.
Magic circle law firms Freshfields Bruckhaus Deringer and Linklaters have bagged the mandates for Essar and the investment banks Deutsche and JPMorgan respectively.
Both international firms had acted on the IPO listing of mining company Vedanta on LSE in 2003.
The completion of Essar Energy's offer would make the IPO the biggest in London to date and qualify it for inclusion in the FTSE 100 Index.
Established over 40 years ago by chairman Shashi Ruia and ice-chairman Ravi Ruia, Essar Energy has a diverse portfolio of power, exploration and production and refinery assets, including the Vadinar refinery in Gujarat.
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Best,
Kian
Linklaters has been trying hard to push TTA in every Indian deal it gets. It might be successful in these early days but in the longer run, TTA has much to do to prove itself.
We all know of Links' reputation in the international markets but its attempt to groom an Indian law firm, without "young" partners of "standing", is its biggest failing in “India”. Note the emphasis please.
The two partners of advance age at TTA are deserving of respect but their clients cannot expect them to be as "hands on" as some of the younger partners.
The newly introduced Linklaters’ partners have little or no India experience. One wonders what Indian law advice they would give, besides the "commercially relevant" advise that Linklaters' lawyers are known for or the posh English accents. Legal practice in India involves an understanding of the regulatory framework, which is a maze in itself, and
most partners in the best Indian firms spend 8-10 years to acquire such an understanding. Such an understanding does not come with the knowledge of the perfectly formed and grammatical correct English sentences.
The younger lot of TTA partners can be overlooked and for good reason.
Apologies for hitting below the belt if I have. I am a former TTA associate and have good reason for doing so.
With best regards, especially to TTA
Former TTA Associate
If you have a base in India and have proved yourselves as an able and worthy firm, a foreign tie up will add value to your portfolio. However, if you want to make it solely on the basis of a tie up and nothing more (#3 you, but not others, will understand the meaning of this), nothing will work. All hype but nothing concrete to show.
Yes, there is a senior partner over there that has done it all and has a heart of gold. But, even he is caught up in this mess [...]
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