CAM advised Chubu on its acquisition of 25.1% stake in OMC Power
CAM advised Chubu on its acquisition of 25.1% stake in OMC Power
Cyril Amarchand Mangaldas and Norton Rose Fulbright advised Chubu Electric Power Co., Inc (Chubu) for acquiring 25.1% stake in OMC Power Private Limited (OMC Power). Chubu through its fully owned subsidiary entered in a share subscription agreement to acquire the shares of OMC Power and by way of subscription to equity shares and Series C CCPS.
As a result of this transaction Chubu will be utilizing it's comprehensive insight in power transmission and distribution for improvement of the generation facilities.
The Transaction value is approximately USD 39 million.
The General Corporate and Projects Practice of Cyril Amarchand Mangaldas assisted Chubu on conducting the due diligence, regulatory advisory and negotiating the deal alongside the Norton Rose team.
The transaction was led by Sangita John, Partner; Manan Mehta, Partner; with support from Nandita Menon, Principal Associate; Shweta Sriram, Principal Associate; along with Aleesha Jadhav, Senior Associate – Designate; Samiya Zehra, Associate; and Sampurna Kanungo, Associate.
Other Parties and Advisors to the transaction included Norton Rose Fulbright (Acted as International law firm to Chubu).
The Transaction was signed on 31st May, 2022 and is subject to anti-trust filings (EU and China) and lender consents.
