Shardul Amarchand Mangaldas and Co (SAM and Co) acted as the legal advisor to Cube Highways and Infrastructure pvt limited in its acquisition of Western UP Tollway Limited, for an enterprise value of Rs. 575 crore.
The transaction is expected to closed by March, 2016. Cube Highways and Infrastructure Pvt. Limited, is an investment platform funded by ISquared Capital (a global investment fund) and IFC (the private sector investment arm of the World Bank).
The Shardul Amarchand Mangaldas and Co team was led by Jatin Aneja, Partner, and included Anubhuti Agarwal, (EX- SAM and Co Partner), Siddhartha Sen, Principal Associate, Varun Nair, Senior Associate and Dhrupad Pant, Associate.
The team was involved in all legal aspects of the deal including structuring, drafting, negotiating and finalization of the transaction documents, and assisting in completion of closing related formalities.
As a part of the transaction, Cube Highways and Infrastructure Pvt Limited has agreed to acquire a 100 percent stake in Western UP Tollway Limited from NCC Limited, NCC Infrastructure Holding Limited, Gayatri Projects Limited and Gayatri Infra Ventures Limited.
The parties involved in the transaction were Cube Highways and Infrastructure Pvt Limited, NCC Limited, NCC Infrastructure Holding Limited, Gayatri Projects Limited, Gayatri Infra Ventures Limited; and Western UP Tollway Limited.
Deal Value: Enterprise value of Rs. 575 crores (subject to certain closing adjustments).
Date of Closing: The deal is expected to be closed by March, 2016 – subject to fulfillment of conditions precedent.
Other Advisor to the transaction was Tatva Legal (legal advisor to the Company and the Sellers) and E and Y (financial advisor to the Company and the Sellers).