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Argus, NDA on Italy-India M&A; ALMT for Reliance

Cable manufacturer3
Cable manufacturer3

Argus Partners and Nishith Desai Associates have advised on the Rs 200 crore ($43m) sale of Ravin Cables to an Italian cable manufacturer, while ALMT Legal has scored its first mandate for a Reliance fund, which was one of Ravin's shareholders.

Nishith Desai Associates head of M&A Nishchal Joshipura in Mumbai acted for Ravin and its promoters the Karia family.

Prysmian was jointly advised by Kolkata start-up Argus Partners with Allen & Overy (A&O) Dubai associate Victoria Honey acting as international counsel to the buyer.

Argus founder Krishnava Dutt and recently joined partner Ramya Hariharan led the domestic team, assisted by associate Adity Chaudhuri.

In ALMT Legal's first instruction for a Reliance private equity fund, ALMT corporate partner Aliff Fazelbhoy advised Reliance Power Fund on its disposal of around 8 per cent of its shares.

Fazelbhoy confirmed that ALMT had been instructed but declined to comment further.

Milan-based Prysmian acquired a 51 per cent controlling stake in Ravin earlier this week, reported financial news site VCCircle.

Ravin also has a joint venture with a United Arab Emirates company and also has business interests in Africa.

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