International law firm Taylor Wessing has advised specialist infrastructure investor Guggenheim Global Infrastructure (“GGIC”) and others on the sale of $215m of Indian infrastructure assets to Infrastructure India Plc (“IIP”) and the related placing to raise $52m. Together the acquisition and the placing have a combined value of over $300m.
The assets being acquired by IIP include a hydroelectric power plant and container shipping and logistics operation in Bangalore and Chennai. The deal, which will result in a reverse takeover and re-admission to AIM by IIP, is conditional on shareholder approval at an EGM on 2nd March.
Head of the Financial Institutions and Markets group Tim Stocks, who led the Taylor Wessing team advising GGIC, comments:
“We are delighted at the announcement of this complicated transaction, which the firm both initiated and led”.
Tandeep Minhas, partner in the Financial Institutions and Markets group, says:
“This successful deal is the latest positive sign of the continuing trend for Indian companies to look towards London as a listing venue to raise monies for investment. This deal bears out the firm’s strategic decision to focus on India and London IPOs and looking forward the pipeline of deals continues to be strong”.
The Taylor Wessing team included senior associates Edward Hooper and Fade Solanke-Mitterer and associates Kate Jenkins and Leah Carson.
GGIC was advised by MMB Legal on Indian aspects of the deal. IIP were advised by Nabarro and Amarchand.
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