Khaitan, CAM act on Adani - MetTube copper tube business partnership

Adani Group has entered into a strategic partnership with MetTube by divesting 50% of its stake in Kutch Copper Tubes Limited, an Adani subsidiary, to MetTube Mauritius Pvt Limited and concurrently, acquiring a 50% stake in MetTube Copper India Private Limited, a MetTube subsidiary.

Khaitan & Co advised the MetTube Group on this partnership. The Firm's role involved: (i) negotiating, drafting, and reviewing term sheet/MOU, transaction documents and ancillary documents; (ii) conducting limited legal due diligence on KCTL; (iii) assisting with the execution of transaction documents; (iv) PLI approval assessment; and (v) competition law assessment.

The core team consisted of Ashraya Rao (Partner), Saswat Subasit (Partner), Ritika Vardhan (Counsel), Sheldon Dsouza (Principal Associate), Hansaja Pandya (Senior Associate) and Sanjana Dwivedi (Associate).

The deal team was supported by:

Competition law aspects; Anshuman Sakle (Partner) and Siddharth Bagul (Principal Associate);

Production linked incentive scheme aspects: Kabir Bogra (Partner); Laksh Manocha (Senior Associate).

Real estate related aspects: Amit Wadhwani (Partner);

Corporate related aspects: Rishika Jain (Associate).

Cyril Amarchand Mangaldas represented the Adani Group on this partnership. The Firm drafted, reviewed and negotiated various transaction documents, assisted with certain regulatory aspects and execution of the relevant transaction documents.

The transaction team was led by Ramanuj Kumar, Partner (Co-Head -Projects (Energy and Energy Transition)) and Ravi Shah, Partner along with Arushi Bindal, Senior Associate and Rohil Kenue, Associate; who advised on the transaction and documentation.

Kumar and Aiswarja Mohanty, Partner along with Sumi Trivedi, Principal Associate advised on certain regulatory aspects of the transaction.

Vijay Pratap Singh Chauhan, Partner with support from Ananya Mahant, Senior Associate and Rasmani Raghuwanshi, Associate advised on the competition law related aspects of the transaction.

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