Conyers advises Vedanta on acquisition of Cairn India Limited - January 2011
Nicolas Richard • Posted 28/01/2011 • Last updated 16/05/2011
Transaction listed as M&A Deal of the Year 2010 by India Business Law Journal
Conyers is acting as Mauritius counsel for London-listed Vedanta Resources Plc in its financing of a proposed buyout of up to 51-60% stake in Cairn India Limited for an aggregate consideration of US$8.5 – 9.6 billion in cash.
The buyout is one of the biggest acquisitions in recent years in India, with Vedanta entering into financing agreements with a consortium of banks comprising Barclays Capital, Citi, Credit Suisse, Goldman Sachs, J. P. Morgan, Morgan Stanley, Royal Bank of Scotland and Standard Chartered.
Nicolas Richard of Conyers’ Mauritius office provided Mauritius counsel to Vedanta alongside Allen & Overy who acted as UK Counsel to Vedanta Resources Plc while AZB & Partners are acting as Indian Legal Advisors. Linklaters LLP acted as UK Counsel and Talwar Thakore & Associates acted as Indian legal advisors.
Cairn India Limited is India’s fourth-largest oil and gas company, and part of Edinburgh-based Cairn Energy.