“SATS, in a joint bid with Cargo Service Center India (CSC), has won a cargo handling concession contract in Chhatrapati Shivaji International Airport in Mumbai, India.”, reported The Business Times. The joint venture constituted between CSC and SATS Investment, a subsidiary of SATS wherein SATS Investment has subscribed for a 49% equity stake in CSC's subsidiary, Mumbai Cargo Service Center Airport, which will be responsible for operating the concession and managing the international cargo facilities at the airport. The gross deal value of the project is estimated to be around INR 600 crores (around $94.3).

DSK Legal advised Cargo Service Center and its promoters, Tushar Jani and Khushroo Dubash, in connection with the tender process, concession agreement with MIAL and joint-venture agreement for the project, and also assisted in raising debt facilities from the lenders. The DSK transaction team was led by partner Ajay Shaw, managing associate Ashish Pahariya along with associates Soham Mookherjee, Anisha Kumar and Yojit Pareek, according to DSK's press release.

A Khaitan & Co Mumbai-based team advised Sats Investments, a subsidiary of SATS Limited on the transaction, with a team including partner Akhil Bhatnagar, partner Gahan Singh, senior associate Samridha Neupane, senior associate Jhinook Roy, associate Dhruv Chopra and associate Harshita Khurana.

Luthra & Luthra Mumbai acted as the legal counsel for IDFC Infrastructure Finance and L&T Infrastructure Finance , the lenders to the project, whereas SBI Capital Markets was the arranger for the debt transaction.

The cargo operations handled at the international airport in Mumbai is among the largest in the country and this is the first time that MIAL has awarded a long-term concession to a private operator for a period of 19 years.

2017-12-26

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing. If you are or know one of the lawyers who acted on this deal but has not been credited, please leave a comment below (marked not for publication), preferably with your name and email address, and we will update the report.

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Like +1 Object -0 Alias! 12 Jan 18, 14:13
Congratulations Akhil from KCO for leading the transaction.
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Like +1 Object -0 Alias2 16 Jan 18, 13:06
Congrats guys!!
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