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$400m JSW-Jaiprakash deal: Cyril's Viswanathan, Vaish's Daruwala reap rewards from age-old ties

“Sajjan Jindal-controlled JSW Energy has agreed to acquire a 500 MW thermal power plant located in Madhya Pradesh from Jaiprakash Power Ventures for an enterprise value of ₹2,700 crore in an all-cash deal.” (Hindu Businessline)

Value: Rs 2,700 crore ($402m)

JSW Energy was advised by Cyril Amarchand Mangaldas Mumbai-based infrastructure & project finance partner L Viswanathan and corporate partner Tushar Mavani with New Delhi-based infrastructure & project finance partner Ramanuj Kumar. Competition law advice was given by Mumbai based competition law partner Bharat Budholia.

Jaiprakash Power Ventures was advised by Vaish Associates partner Bomi Daruwala principal associate Yatin Narang, associate Rohan Shrivastava.

The transaction documents were signed on 18 July with the deal expected to close by 31 May 2017.

Both law firms are long-standing advisers to both companies, having for instance also acted on Jaiprakash’s sale of two projects for Rs 9,700 crore in 2014.

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