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Trilegal, Khaitan, Shearman on IPCL's buy in Meenakshi Energy

Trilegal and Shearman & Sterling advised French firm Engie on the sale of its entire 89.11 per cent stake in Meenakshi Energy to India Power Corporation which was advised by Khaitan & Co.

Trilegal Delhi partners Yogesh Singh and Neeraj Menon, counsel Ravi Mahton and senior associates Amar Narula and Suchita Saigal, and Shearman London partner Mathew Powell and associates Nicholas Withers and Thomas Barker acted for Engie.

Khaitan Mumbai partner Upendra Joshi, associate partner Gahan Singh, principal associate Shivanshu Thaplyal and associates Jhinook Roy, Sagar BM, Suditi Surana and Nishant Prasad acted for India Power.

The deal value is undisclosed but, according to India Power’s owner Kanoria Foundation’s statement to Economic Times the net worth of Meenakshi Energy is about Rs 1,600 crore and its debt is around Rs 3,000 crore.

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