CAM on Essar's $560m mega delisting

Thursday, 7 January 2016 By Harleen Kaur Corporate M&A

Cyril Amarchand Mangaldas advised Essar Oil on its $559m (Rs 3,745 crore) delisting of shares from stock exchanges.

CAM managing partner Cyril Shroff, Mumbai corporate partner Ravi Kumar and partner designate Anchal Dhir acted for Essar oil on this largest Indian delist offering in terms of its payout to investors.

The company is expected to announce a delisting price of Rs 262.8 per share due to LIC’s decision to hike the price by nearly 10 per cent, which will lead the promoters - Ruias - to pay more to investors, reported the Times of India.

Cyril Amarchand Mangaldas

Comments

Uncle SAM 7 Jan 2016, 20:03

+3 -1

Seems like CAM Delhi has still not managed to settle down. While we frequently witness SAM Mumbai closing deals, CAM Delhi seems to have been a disaster.

GpC 7 Jan 2016, 21:42

+1 -0

Partner Designate? What is that?

Alias 8 Jan 2016, 07:00

+1 -1

That is an embarrassing legacy CAM has retained despite all the claims of new wine, bottle, cork and corkscrew, as a result of transformation from AMSS to CAM.

Commenting is closed for this article.