Subscribe for perks & to support LI

Your Interests & Preferences: Personalise your reading

Which best describes your role and/or interests?

I work in a law firm
I work for a company / in-house
I'm a litigator at the bar
I'm a law student
Aspiring law student
Save setting
Or click here to show more preferences...

I am interested in the following types of stories (uncheck to hide from frontpage)

Firms / In-House
Legal Education

Always show me: (overrides the above)

Exclusives & Editor's Picks

Website Look & Feel

Light Text on Dark Background

Save preferences

Note: Your preferences will be saved in your browser. You can always change your settings by clicking the Your Preferences button at the top of every page.

Reset preferences to defaults?

Khaitan advises Itochu’s Singapore subsidiary on buy of Aegis Logistics’ LPG terminal arm for $38m

Itochu Petroleum Co, the Singapore-based subsidiary of Japanese trading company Itochu Corporation has announced the acquisition of 19.7% stake in Aegis Logistics' wholly-owned subsidiary, Hindustan Aegis LPG (HALPG), for INR 239 crores (apporximately $37.8m), as reported by Business Standard and VC Circle in May of last year. In addition to India, Itochu Corporation, the Japanese multinational trading group specialising in oil & gas, metals and other commodities, operates LPG import hubs in Japan and the Philippines.

Khaitan & Co advised Itochu Petroleum (Singapore) and was led by partner Gahan Singh, principal associate Anuj Sahay, senior associates Jhinook Roy and Prateek Bhandari along with associate Sagar BM

Hindustan Aegis LPG, a group company of Aegis Logistics, has commissioned and operates a cryogenic facility near Haldia Port in West Bengal for the import, storage, handling and distribution of liquefied petroleum gas with an annual capacity of 2.5m MT per year. It was also reported that the partnership with Itochu Singapore is expected to meet the growing demand for LPG in the country and will help them to accelerate its capital expenditure programme for the next cycle of LPG import terminals after Haldia continuing the plan of building its ‘necklace of terminals’ around India.

The deal closed on 5 January 2018 but was first reported in May 2017.

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.


Latest comments