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ILP, DSK, Amicus on $60m Toshiba, UEM buy

Indian Law Partners (ILP) advised Toshiba Corporation which bought Rs 400 crore ($60.7m) worth of shares in Noida based water services company UEM India from India Value Fund (IVF) and UEM’s promoter Krishnan Kshetry. IVF was advised by DSK Legal and Kshetry was advised by Amicus Services.

ILP partner Gopika Pant, senior associate Vineet Gupta and associate Sehar Aijaz acted for Toshiba.

Amicus partner Shivi Agarwal acted for Kshetry and DSK partner Narendra Digankar and manager Rishabh Mastaram acted for IVF

The Rs 400 crore sale now leaves IVF’s stake in UEM at 20 per cent, reported the Economic Times adding that Toshiba had already bought 26 per cent in UEM in March 2014.

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