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S&R, CAM on biggest logistics PE as CPPIB, IndoSpace form $1.3bn Indo-Canadian JV

“In the largest private equity deal in the logistics space, the Canadian pension fund manager Canada Pension Plan Investment Board (CPPIB) and IndoSpace, promoted by PE firm Everstone and US-based Realterm, have entered into a three-step deal which would entail an investment of $1.3 billion (Rs 8,320 crore), most of which will come from the CPPIB,” reported Business Standard

“The two entities will set up a joint venture called IndoSpace Core to develop logistics facilities in the country. In the joint venture, the CPPIB will invest $500 million (Rs 3,200 crore) and get a majority stake,” BS added.

S&R Associates partners Sandip Bhagat, Rajat Sethi, Sudip Mahapatra and associates Dhruv Nath, Jinaly Dani, Aditya Mohanty, Henna Kapadia and Anita Srinivasan were instructed by Everstone general counsel PM Devaiah and vice president (legal, private equity) Rupesh Mishra, and IndoSpace in house legal team’s executive director Dhruti Dholakia and senior manager Sawan Sutar.

Cyril Amarchand Mangaldas partner Shagoofa Khan acted for CPPIB.

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