Amarchand advises JSW Steel on ISPAT takeover

December 22, 2010 JSW Steel Limited has bought a 41 percent stake by way of preferential allotment of 1 billion equity shares in ISPAT Industries Limited in a deal amounting to Rs. 2,175 crore ($450 million).

Economic Laws Practice advised ISPAT Industries with a team led by Partners Suhail Nathani and Sujjain Talwar along with Associate Partners Darshan Upadhyay, Ramya Mohan, Yashojit Mitra and Associate Archana Khosla.

Amarchand Mangaldas advised JSW Steel with a team led by Managing Partner Cyril Shroff and Senior Partner L. Viswanathan. This is second innings with JSW for Amarchand, as early this month it had advised JSW Energy in acquiring CIC Energy Corporation for $414 million (Rs. 1,886 crore).

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