The transaction follows a 31.50% stake acquisition from Warburg Pincus Group.
At Warburg Pincus, private equity is the firm’s only business. Established more than 50 years ago, Warburg Pincus has invested more than $89 billion in more than 920 companies in more than 40 countries around the world.
Warburg Pincus’ globally integrated, the private partnership ensures that all of the firm’s resources are committed to the success of each portfolio company. Warburg Pincus has a long history of partnering with entrepreneurs in all stages of development across industries and geographies and helping them scale.
Warburg Pincus traces its roots to E.M. Warburg & Co., an investment banking and private investment consulting firm, founded in New York in 1939 by Eric Warburg. In 1966, the firm was acquired by Lionel I. Pincus & Co., venture capital and financial consulting firm. John L. Vogelstein joined Lionel I. Pincus in early 1967 and together they transformed the firm and, in doing so, helped create the private equity industry. Today Warburg Pincus is a globally integrated private partnership with 72 partners focused solely on private equity.
About CAM
Cyril Amarchand Mangaldas advised Adani Ports And Special Economic Zone Limited (Adani Ports) on an acquisition of a 58.10% stake held by D.V.S. Raju and other promoter entities (Promoters) in Gangavaram Port Limited (Gangavaram Port) for INR 3,604 crore.
Earlier this month, Adani Ports had announced the acquisition of Warburg Pincus group’s 31.50% stake in Gangavaram Port. Once the current acquisition receives requisite approvals, Adani Ports will end up owning an 89.60% stake in Gangavaram Port.
The General Corporate and Competition Law teams of Cyril Amarchand Mangaldas advised Adani Ports on the Transaction.
PARIDHI ADANI
Partner (Head – Ahmedabad)
The Transaction was led by Smruti Shah, Partner; and Paridhi Adani, Partner, with support from Aviral Chauhan, Senior Associate and Neham Tayal, Senior Associate.
SMRUTI SHAH
Partner (Cyril Amarchand Mangaldas, Mumbai)
The due diligence team was led by Paridhi Adani, Partner; with support from Aniket Singhania, Senior Consultant; Esha Sanas, Associate; and Rual Chudukattil, Associate.
The Competition Law team was led by Avaantika Kakkar, Partner (Head – Competition), Anshuman Sakle, Partner; with support from Kaustav Kundu, Principal Associate; Ruchi Verma, Senior Associate.
The Transaction is subject to approval from the Competition Commission of India.
The Transaction was signed on March 23, 2021, and is expected to be closed by September 30, 2021.
About Cyril Amarchand Mangaldas
India’s Leading Law Firm, Cyril Amarchand Mangaldas was founded on May 11, 2015, and takes forward the values going back 103 years, of the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co. Tracing its professional lineage to 1917, the Firm has over 750 lawyers, including 137 partners, and offices in India’s key business centres at Mumbai, New Delhi, Bengaluru, Hyderabad, Chennai and Ahmedabad. The Firm advises a large and varied client base that includes domestic and foreign commercial enterprises, financial institutions, private equity funds, venture capital funds, startups and governmental and regulatory bodies.
The Firm received the “Law Firm of the Year” award at the Asian Legal Business (ALB) India Law Awards 2020 and the “Law Firm of the Year, India” at the Asialaw Regional Awards 2020. The firm was also named as the “Most Innovative National Law Firm of the Year – India for 2020” at the IFLR Asia Awards and voted as the “Employer of Choice for 2020” from India, by the Asian Legal Business.
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