Khaitan & Co Counsels Reliance Industries To Acquire Nauyaan Trading
The acquisition was made through its wholly-owned subsidiary;
Khaitan & Co Counsels Reliance Industries To Acquire Nauyaan Trading
The acquisition was made through its wholly-owned subsidiary
Khaitan & Co has advised Reliance Industries Limited on its 100 percent acquisition of Nauyaan Tradings Private Limited from Welspun Tradings Limited and its agreement to acquire 74 percent of equity stake in Nauyaan Shipyard Private Limited from Welspun Corp Limited for Rs.382.73 crore.
Reliance made the acquisition through its wholly-owned subsidiary Reliance Strategic Business Ventures Limited (RSBVL), from Welspun Tradings for Rs.1 lakh.
Nauyaan Shipyard was incorporated in July 2021. It holds leasehold rights to 138 acres of land near Reliance's Dahej manufacturing facility in Gujarat. The location is intended for activities including salt handling, storage, brine preparation, engineering fabrication of structures, and manufacturing of hydrogen electrolyzers.
Khaitan & Co supported in preparing due diligence report and advising Reliance on structuring, drafting and negotiating the transaction documents, providing execution and closing assistance.
The law firm’s team consisted of Rahul Dutt (Partner), Purti Minawala (Partner), Shivam Tandon (Principal Associate) and Harshita Mishra (Senior Associate). They were assisted by Abhijeet Kamath (Senior Associate) and Samkit Jain (Associate).
The real estate aspects were dealt with by Harsh Parikh (Partner) and Karan Dattani (Principal Associate);
IBC-related matters were handled by Kumar Saurabh Singh (Partner) and Ashwij Ramaiah (Principal Associate).
