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Petronas buys Amplus Energy for 2,700 crore: L&L, SAM, CAM, Dentons, Davis Polk, Dunn act
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Petronas buys Amplus Energy for 2,700 crore: L&L, SAM, CAM, Dentons, Davis Polk, Dunn act

Bar & Bench

Malaysia’s state-run oil and gas company, Petronas has acquired Amplus Energy Solutions Pvt. Ltd, one of India’s largest rooftop solar power producers.

While New York-based I Squared Capital holds over a 90% stake in Amplus, the balance is held by the management team led by Amplus founder and chief executive officer Sanjeev Aggarwal, reported Mint.

Dentons Rodyk & Davidson LLP and L&L Partners acted for Petronas.

The L&L team was led by Senior Partner Mohit Saraf and Partners Samir Dudhoria and Pallavi Bedi, along with Senior Associate Jitender Singh Shekhawat and Associates Aiswarja Mohanty, Ashita Bali, Aarushi Nargas and Kanchan Modak.

Partner Suyash Srivastava and Senior Associate Kumar Prem Anand advised on employment issues. Partner, Nirupam Lodha and Associate Shivangi Narang advised intellectual property rights aspect. Partner, Abdullah Hussain advised on competition law aspect.

Shardul Amarchand Mangaldas & Co advised I Squared Capital and the team was led by Partner Raghubir Menon and Nivedita Tiwari along with Principal Associate Gaurav Dayal, Senior Associate Nandini Seth, and Associate Ananya Kulkarni.

Davis Polk & Wardwell also advised I Squared Capital and Dunn & Crutcher LLP acted as advisors for I Squared Capital on Singapore law.

Cyril Amarchand Mangaldas conducted the vendor due diligence on behalf of Amplus Energy Solutions Pte. Ltd.