Cyril Amarchand Mangaldas advises Adani Ports on acquisition of Indian Oiltanking

7 Dec 2022 , 10:50 AM

Business Wire India

Cyril Amarchand Mangaldas advised Adani Ports and Special Economic Zone Limited (Adani Ports) on its acquisition 49.38% shareholding in Indian Oiltanking Limited (IOTL) from Oiltanking India GmbH as well as 10% shareholding in IOT Utkal Energy Services Limited from Oiltanking GmbH. IOTL is one of India’s largest developer and operator of liquid storage facilities, and post this transaction, Adani Ports would become India’s largest third-party liquid tank storage player.

The General Corporate Practice of Cyril Amarchand Mangaldas advised Adani Ports on the transaction. The transaction team was led Paridhi Adani, Partner; Mudit Shah, Partner; with support from Saurabh Sharma, Principal Associate; Akshay Zaveri, Associate; and Rishabh Manihar, Associate.

Other Parties and Advisors to the transaction included Ernst & Young (acted as financial advisor for Oiltanking India GmbH).
 
The aggregate value of the Transaction is INR 1,050 crores (approx.)
 
The transaction was signed on November 09, 2022.

About Cyril Amarchand Mangaldas

Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With 1000 lawyers and 160 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.

The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2021.