Mumbai (Maharashtra)/ New Delhi [India], December 21 (ANI/NewsVoir): Cyril Amarchand Mangaldas acted as the Indian legal counsel to Senvion GmbH (Senvion GmbH) on selling its entire stake in the India operations of Senvion spread across its various entities ("Senvion India") to Global Renewable Energy Development Holding Company Limited (Purchaser) owing to the bankruptcy of Senvion GmbH.
The General Corporate team of Cyril Amarchand Mangaldas successfully enabled signing of the contract agreements, executed this transaction and subject to regulatory approvals, the sale is expected to close in Q1-2021.
The Transaction team was led by Smruti Shah, Partner; with support from Aviral Chauhan, Senior Associate; Gauri Devpura, Associate and Devanshi Dalal, Associate.
The transaction envisages the transfer of complete ownership of Senvion India along with all assets such as the factory, installed base of O&M and current ongoing projects, intellectual property rights relevant for the Indian market and its strong 300+ team size.
This transaction involved complex structuring given that the Purchaser and the Sellers are non-residents and Senvion GmbH is insolvent.
Other parties involved in the transaction are:
* Senvion India - lead by Pathik Arora, General Counsel of Senvion India
* DLA Piper UK (Foreign Legal Counsel to Senvion Group) - lead by Mr. Benjamin Parameswaran and Ms. Cristina Villafrade
* AZB and Partners (Legal Counsel to Global Renewable Energy Development Holding Company Limited)
* GORG Partnerschaft (Self-Administration and Restructuring Professional to Senvion Group) - lead by Dr. Thorsten Bieg and Dr Karl-Friedrich Curtze.
* Rothschild & Co. (M&A Advisor to Senvion Group)
* PwC (Financial Advisors to Global Renewable Energy Development Holding Company Limited)
For this transaction, the agreement was signed on December 1, 2020, and closing is expected in first quarter of 2021.
India's Leading Law Firm, Cyril Amarchand Mangaldas was founded on May 11, 2015 and takes forward the values going back 103 years, of the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co. Tracing its professional lineage to 1917, the Firm has over 750 lawyers, including 137 partners, and offices in India's key business centres at Mumbai, New Delhi, Bengaluru, Hyderabad, Chennai and Ahmedabad. The Firm advises a large, and varied client base that includes domestic and foreign commercial enterprises, financial institutions, private equity funds, venture capital funds, startups and governmental and regulatory bodies.
The Firm received "Law Firm of the Year" award at the Asian Legal Business (ALB) India Law Awards 2020 and "Law Firm of the Year, India" at the Asialaw Regional Awards 2020. The firm was also named as the "Most Innovative National Law Firm of the Year - India for 2020" at the IFLR Asia Awards and voted as the "Employer of Choice for 2020" from India, by the Asian Legal Business.
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