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Quartet of firms for $192m Guggenheim reverse takeover with AIM cash

Amarchand and MMB Legal, with London firms Nabarro and Taylor Wessing on complex deal involving AIM fundraising and two acquisitions.

Amarchand Mangaldas and London firm Nabarro have advised AIM-listed Infrastructure India plc on its £33m (Rs 241 crore) fundraising and purchase of $191.5m (Rs 869 crore) of assets backed by Guggenheim Global Infrastructure, which was advised by Bangalore-based MMB Legal and Taylor Wessing.

Amarchand Mangaldas Mumbai partner Vandana Shroff and principal associate Gurpreet Ashar acted for Infrastructure India, with London-based Nabarro partner Alasdair Steele leading on legal advice outside of India.

Steele said: “With the scale of the budget set aside by the Indian government for domestic infrastructure projects, it's no surprise that the sector is so popular with investors. We see it as a significant opportunity for future work.”

MMB Legal partners Mahesh Madan Bhat and Talha Salaria, with advocate Ryan Locke, represented Guggenheim and the second seller Anuradha Holdings, with London firm Taylor Wessing having provided the non-Indian law advice.

The deal involved infrastructure investment fund Infrastructure India acquiring two Indian assets held by Guggenheim and Anuradha for cash and stock consideration, according to VCCircle, which would make Guggenheim Infrastructure India’s largest shareholder.

Infrastructure India will then own 50 per cent in India Hydropower Development Company and 99.99 per cent in Vikram Logistic & Maritime Services Private Limited.

Infrastructure India transferred from the London Stock Exchange’s (LSE) main list to the Alternative Investment Market (AIM) list last year.

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