Telengana-based Ramagundam Fertilizers & Chemicals, a joint-venture company promoted by NFL, EIL and FCIL, have entered into a shareholders agreement with the HTAS consortium along with GAIL India in relation to a 26% stake acquisition of the total project equity of Rs 1313.57 crores (around $181m) for its fertilizer project in Ramagundam, as per the EGM report by RFCL and the press release by Haldor Topsoe A/S. The investment saw the consortium of Danish entities being Haldor Topsoe A/S, Investment Fund for Developing Countries (IFU) and Danish Agribusiness Fund acquiring 11.7% stake in the fertilizer plant together with natural gas processing and distribution company, GAIL India and the State of Telangana acquiring 14.3%. The partners have agreed on a shared investment in the Ramagundam fertilizer plant, which is scheduled to begin operation in the second quarter of 2019 as the first of the revival projects.
Amicus Advocates advised
Khaitan & Co acted as the legal advisors to
Trilegal acted for the Danish consortium of
NFL and GAIL were advised by their in-house teams.
Ramagundam Fertilizers & Chemicals is a professionally managed company jointly set up by EIL, NFL and FCIL pursuant to a mandate given to them by the Government of India to revive and operate the defunct fertilizer plant of FCIL at Ramagundam. The current investment is one of the largest in a urea manufacturing plant in the country to promote the production of urea under the New Investment Policy 2012 of the Govt of India.
2018-08-17
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.