Bluspring Enterprises Limited has acquired the India business of German energy company STEAG Power GmbH, Steag Energy Services (India) Private Limited, through its wholly-owned subsidiary, Bluspring New Horizon One Private Limited.
Steag Energy Services (India) currently has two subsidiaries: STEAG Energy Services (Botswana) (Pty) Ltd., a wholly-owned subsidiary based in Botswana, and STEAG O&M Company Private Limited, a joint venture with Hinduja Energy (India) Limited. Following the completion of the transaction, both entities will become step-down subsidiaries of Bluspring.
Trilegal advised Bluspring Enterprises on this acquisition. The Firm advised on all aspects of the transaction, including drafting and negotiating transaction documents, conducting legal due diligence, and coordinating with Botswana counsel for regulatory approvals.
The transaction and due diligence team was led by Abhishek Dubey (Partner), with support from Sarthak Sood (Senior Associate), Associates Pulkit Gera, Sagnik Sarkar and Aditya Kaushik.
Khaitan & Co advised STEAG Power GmbH on the divestment of their entire stake in Steag Energy Services to Bluspring.
The transaction team consisted of Rabindra Jhunjhunwala (Partner), Kevin Shah (Counsel), Niyanta Munyal (Principal Associate), Associates Ankush Unni and Apurva Singhi.
Shailendra Bhandare (Partner) provided assistance on Intellectual Property law aspects.
Fairfax-backed Bluspring is India’s leading integrated infrastructure services enterprise with a workforce of over 90,000 operating across 28 states. It supports more than 1,000 customers across healthcare, education, BFSI, commercial, IT, telecom, manufacturing and industrial, government, and PSU sectors.
The acquisition will strengthen Bluspring’s capabilities across upstream and downstream power services and support its expansion in India and international markets.
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