Khaitan, Trilegal, Shearman lead on IPCL’s acquisition of stake in Meenakshi Energy from France-based Engie (updated)

Bar & Bench

India Power Corporation Limited (IPCL) is acquiring the entire stake held by France-based Engie in Meenakshi Energy.

Khaitan & Co acted for India Power Corporation Limited with a team led by Partner Upendra Joshi, Associate Partner Gahan Singh, Principal Associate Shivanshu Thaplyal and Associates Jhinook Roy, Sagar BM, Suditi Surana and Nishant Prasad.

Trilegal advised Engie with a team led by Partners Yogesh Singh and Neeraj Menon and assisted by Ravi Mahto, Counsel and Senior Associates Amar Narula and Suchita Saigal.

Shearman & Sterling, London led by Partner Matthew Powell advised Engie BV.

The deal will imply takeover of 89 per cent of the thermal power plant’s net worth at 1,426 crore. The total net worth is valued at 1,600 crore, reports Business Standard.

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