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Ashurst & India best friend ILP advise Toshiba’s $20m clean water entry opposite DSK

Toshiba deal: Documentation in English
Toshiba deal: Documentation in English

Indian Law Partners (ILP) and Ashurst acted for Japanese electronics major Toshiba Corporation in its investment in Delhi-based waste water treatment and clean water solutions provider company UEM India. DSK Legal advised UEM India and its majority stakeholder India Value Fund (IVF).

ILP partner Piyoosh Gupta, counsel Gaurav Wahie and associate Vineet Gupta and Ashurst Tokyo partner Mark Davies, counsel Arabella Dove and senior associate William Holmes acted for Toshiba.

Ashurst and ILP have a best-friend referral relationship since 2011.

Toshiba, according to VCCircle, picked up a 26 per cent stake in UEM for $20m (Rs 125 crore) valuing UEM India at $77m.

DSK Legal partner Narendra Digankar and manager Rishabh Mastaram acted for UEM and IVF. IVF had picked up a controlling stake in UEM a few years ago and continues to be the majority shareholder, reported VCCircle.

Photo by Miki Yoshihito

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