Vaish, NDA on Goldman Sachs' $59m investment in Amber Enterprises

Friday, 29 January 2016 By Prachi Shrivastava Corporate M&A

Nishith Desai Associates advised global investment firm Goldman Sachs on its Rs 400 crore investment in India’s largest consumer-durables equipment maker Amber Enterprises. Amber was advised by Vaish Associates.

Vaish Delhi partner Satwinder Singh and senior associate Varnika Sharma acted for Amber.

NDA Delhi partner Rajesh Simhan and senior associate Ankit Mishra acted for Goldmans.

Goldman will buy a 34 per cent stake in Amber, from its existing investor Fairwinds Private Equity, and will also about 15 pe cent from Amber’s promoters, reported Mint.

Correction: The originally published version of this story had mixed up the parties. We regret the error.

Nishith Desai AssociatesVaish Associates

Comments

Curious Jack 29 Jan 2016, 21:52
+0 -2
Dear Kian, I notice that Goldman Sachs' appoints a different law firm for every such notable transaction. This time it's a tier II firm for them. Any reason why that is?
Tier I vs. Tier II 30 Jan 2016, 05:20
+1 -3
The only difference between Tier I and Tier II firms is big brother attitude and not being practical while negotiating a deal vs. being flexible and at the same time protecting your client's interests. Obviously, it all depends on partners working on deals, but mostly, the big firms never come with practical solutions and flexibility. It could be the reason why bigger clients are moving to Tier II firms. Plus, they save some time and costs as well.
Curious Jack 30 Jan 2016, 09:19
+3 -1
Sounds like I provoked the sensibilities of an emotionally charged lawyer of some Tier II set-up, who has told me everything else other than what I wanted to know. The way some people just generalise things.. What a pity!
Correction 30 Jan 2016, 07:13
+0 -0
Satwinder Singh's own update on his linked in profile:

Elated to announce that I along with my team at Vaish Associates Advocates advised Amber Enterprises India P. Ltd (Amber) in a transaction wherein Goldman Sachs (GS) will acquire nearly 49% of the paid up equity share capital of Amber. Vide this transaction, GS will give an exit to Reliance Alternative Investments Fund –PE Scheme-I (acting through Fairwinds Trustees Services P. Ltd) by acquiring its 34% stake in Amber's equity share capital, & will acquire additional 14-15% stake in Amber over the next 3 years. The deal size was over Rs. 200 cr.

Please correct.
Li Reader 30 Jan 2016, 07:35
+0 -0
Kian As per Bar and Bench, NDA acted for Goldman Sachs and not Vaish. Does this mean they have reported it wrongly.
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