Khaitan & Co advised Tenaga Nasional Berhad in relation to primary acquisition by Power and Energy International (Mauritius) Limited, a wholly owned subsidiary of Tenaga Nasional Berhad, Malaysia of 30% stake in GMR Energy Limited for $300m. With a legacy of 65 years, Tenaga Nasional Berhad is the largest electric utility company in Malaysia and the largest power company in Southeast Asia. The core transaction team included Akhil Bhatnagar, Associate Partner and Swathy Ramanath, Senior Associate with inputs and advice on certain deal issues by Bharat Anand, Partner and assistance from the following:
Due Diligence was led by Nishant Beniwal, Counsel and Shivanshu Thaplyal, Associate Partner with assistance from Prateek Bhandari, Associate; Divya Srikanth, Associate; Jhinook Roy, Associate; Suditi Surana, Associate; Nishant Prasad, Associate; Sagar B.M. Associate, Yashashree Mahajan, Associate; Ayush Nanda, Associate; Peshwan Jehangir, Associate Partner and Ayush Agarwala, Senior Associate
Competition Law aspects: Avaantika Kakkar, Partner; Anshuman Sakle, Principal Associate; Dhruv Rajain, Associate and Zacarias Joseph, Associate. The transaction represents a strategic collaboration between two highly established power sector conglomerates with expertise and operations with a multi-sectoral partnership spanning thermal, hydroelectric and renewable sectors