Khaitan & Co advised longstanding clients Leighton International in divesting its its stake in Oriental Pathways to target infrastructure development activities with joint venture partner Welspun, which in December of last year bought a 35 per cent stake of Leighton’s Indian unit for Rs 470 crore.
Amarchand Mangaldas had acted for Welspun that bought a stake in Leighton Contractor, an Indian arm of Australian engineering, procurement and construction (EPC) company Leighton International, resulting in the formation of a joint venture called Leighton Welspun.
Khaitan partner Amitabh Sharma led for Leighton on all its deals while Amarchand partner Jaya Singhania acted for Welspun. Oriental Tollways was represented by its in house legal advisor.
“Welspun had bought 35 percent into Leighton Contractor which is exiting these road projects. It’s a marquee deal in the EPC sector as nobody sells off equity in EPC companies,” said a partner involved in the deal.
Khaitan had advised Leighton on the earlier deal with Welspun and also led for the company on structuring its exit from Oriental Pathways this time.
http://www.moneycontrol.com/news/business/welspun-infra-picks35leighton-for-rs-470cr_508424.html
In the current transaction, Leighton International’s subsidiary Leighton India Contractor sold off its existing stake in the special purpose vehicle (SPV) Oriental Pathways back to the promoters Oriental Tollways.
The SPV was designed to strengthen and widen highway projects in Agra and Indore.
threads most popular
thread most upvoted
comment newest
first oldest
first
A well wisher!
threads most popular
thread most upvoted
comment newest
first oldest
first