Clifford Chance leads $1.5b Indian energy deal
Clifford Chance has taken a leading role on Vedanta Resources’ $1.5 billion stock purchase of Cairn Energy’s India business. Under the deal, Vedanta will buy a 10.4 per cent stake in the Indian oil and gas company from Kuala Lumpur-based Petroliam Nasional Berhad.
AZB & Partners in Mumbai are advising the purchaser, Vedanta subsidiary Sesa Goa. Partners Essaji Vahanvati and Shuva Mandal lead the AZB advisory team.
Clifford Chance capital markets partner Rahul Guptan is advising Bank of America/Merrill Lynch (the placement agent for Petronas). Amarchand Mangaldas is also providing advice to the banks with a team led by Mumbai-based managing partner Cyril Shroff and Bangalore-based partners Nivedita Rao, Arjun Lall, and Anand Jayachandran.
Luthra & Luthra is advising petronas on the complex transaction with a team led by capital markets head Madhurima Mukherjee.