A Web portal All About Energy source

Cyril Amarchand Mangaldas Advises Senvion Group in Relation to Global Renewal Energy Development’s Acquisition of Multiple Group Companies in India

27

Mumbai: Cyril Amarchand Mangaldas acted as the Indian legal counsel to Senvion GmbH (Senvion GmbH) on selling its entire stake in the India operations of Senvion spread across its various entities (“Senvion India”) to Global Renewable Energy Development Holding Company Limited (Purchaser) owing to the bankruptcy of Senvion GmbH.

The General Corporate team of Cyril Amarchand Mangaldas successfully enabled signing of the contract agreements, executed this transaction and subject to regulatory approvals, the sale is expected to close in Q1-2021.

The Transaction team was led by Smruti Shah, Partner; with support from Aviral Chauhan, Senior Associate; Gauri Devpura, Associate and Devanshi Dalal, Associate.

The transaction envisages the transfer of complete ownership of Senvion India along with all assets such as the factory, installed base of O&M and current ongoing projects, intellectual property rights relevant for the Indian market and its strong 300+ team size.

This transaction involved complex structuring given that the Purchaser and the Sellers are non-residents and Senvion GmbH is insolvent.

Other parties involved in the transaction are:

Senvion India – lead by Mr. Pathik Arora, General Counsel of Senvion India

DLA Piper UK (Foreign Legal Counsel to Senvion Group) – lead by Mr. Benjamin Parameswaran and Ms. Cristina Villafrade

AZB and Partners (Legal Counsel to Global Renewable Energy Development Holding Company Limited)

GORG Partnerschaft (Self-Administration and Restructuring Professional to Senvion Group) – lead by Dr. Thorsten Bieg and Dr. Karl-Friedrich Curtze.

Rothschild & Co. (M&A Advisor to Senvion Group)

PwC (Financial Advisors to Global Renewable Energy Development Holding Company Limited)

 

For this transaction, the agreement was signed on December 1, 2020, and closing is expected in first quarter of 2021.

 

Comments are closed.