S&R Associates advised BW LPG in its Joint Venture and Investment
S&R Associates advised BW LPG in its Joint Venture and Investment
S&R Associates represented BW LPG, the world’s leading owner and operator of LPG vessels, in the formation of a 50-50 joint venture, BW Confidence Enterprise, with Confidence Petroleum India Limited, a listed company, to explore investment opportunities in onshore LPG import infrastructure.
Based in Mumbai, the JV will collaborate with BW LPG’s trading division as well as India subsidiary, BW Product Services and BW LPG India respectively, to source and deliver LPG from the international market to meet Confidence’s and India’s growing LPG import needs.
S&R Associates also represented BW LPG in its proposed USD 30 million investment in Confidence Petroleum India Limited pursuant to a preferential allotment of equity shares, which will constitute 8.5% of Confidence Petroleum India’s issued and paid-up share capital on a fully diluted basis. The allotment is subject to shareholder approval and customary closing conditions.
S&R Associates also represented BW LPG in the formation of a joint venture between BW Confidence Enterprise and Ganesh Benzoplast Limited to fund the construction of a cryogenic LPG storage facility at Jawaharlal Nehru Port Association (JNPA) Port in Navi Mumbai, India.
BW LPG is the world’s leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 3 million CBM. With five decades of operating experience in LPG shipping, experienced employees and an in-house LPG trading division, BW LPG offers an integrated, flexible, and reliable service to customers.
The S&R team was led by partners Rajat Sethi and Rachael Israel, and included associates Apurv Sharma, Durga Prasad Mohapatra, Samyak Jain, Oorja Chari and Ameesha Tripathi on corporate matters; partner Sumit Bansal and associates Shivani Chhabra and Taranjeet Singh on direct tax matters; and partner Ajinkya Gunjan Mishra and associates Avani Tewari and Tarusha Airan on indirect tax matters.
