AZB, Amarchand on Warburg’s $140m buy in Dhainik Bhaskar power

Friday, 13 May 2011 By Legally India Corporate M&A

The Delhi and Kolkata offices of Amarchand Mangaldas and Delhi’s AZB & Partners advised on Warburg Pincus’ $140m investment in Dainik Bhaskar-owned Diligent Power.

AZB Delhi partner Anil Kasturi led for Warburg.

Amarchand Delhi and Kolkata-based partner Kalpataru Tripathy with Kolkata senior associate Arindam Sarkar and Kolkata associate Saurya Bhattacharya led for Diligent Power.

The company is in the process of setting up 6,400 MW of power projects, including a 1,200 MW thermal coal power plant in Chhattisgarh and a 1,320 MW super critical thermal power plant in the state of Madhya Pradesh.

Warburg affiliate Willowbay Investment acquired a roughly 25 per cent equity stake in Diligent, with Dainik Bhaskar holding the balance, said AZB in a statement.

Avendus Capital acted as the sole financial adviser to Diligent.

Photo by Marcus Vegas

Amarchand Mangaldas AZB & Partners

Comments

A 13 May 2011, 09:07

+0 -1

Kian, I think Kalpataru is a Kolkata partner.

kianganz 13 May 2011, 09:14

+1 -1

Thanks, had ommitted to mention - Kalpataru Tripathy spends his time in both Delhi and Calcutta, have added this to the article.

friend 13 May 2011, 09:43

+6 -0

Kudos to Arindam - more power to you buddy!!

GC 13 May 2011, 10:08

+0 -2

Interesting to see Delhi lawyers on a Mumbai deal....

San 13 May 2011, 12:05

+1 -6

Congratulations to Saurya, can say for certain as a peer that he's amongst the finest of budding corporate lawyers in the industry!

RacerX 13 May 2011, 12:09

+1 -4

Good going Mr. Bhattacharya...

ABM 13 May 2011, 12:28

+1 -4

Well done saurya! proud of you!!!

Lexter 14 May 2011, 12:20

+2 -8

"AZB Delhi partner Anil Kasturi led for Warburg" - Who was following? Isn't it nice to name a team rather than just a leader? Or is this another one of the one-man armies who cannot retain a team? Only time (and headhunters) can tell!! :)

vc 16 May 2011, 09:00

+3 -1

Arindam - so proud to see your name here

ex collegue 17 May 2011, 11:23

+3 -2

This is good stuff arindam

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