Experience

• Clean Tech | Renewable Energy

• Private Equity Fund Formation

  • AIF Capital in the formation of AIF Capital Asia IV, a $313 million Asia buyout fund.
  • AIF Capital in the formation of AIF Capital Asia III, a $436 million Asia buyout fund.
  • AIF Capital in the formation of Russell AIF Asia II, a $1 billion Asia and India buyout fund.
  • Baring Private Equity Partners India Limited in various fundraising activities in India, including in the formation of Baring India Private Equity Fund III, a $562 million India fund.
  • Carlyle in the formation of Carlyle Asia Growth Partners V, a $340 million Asia growth capital fund.
  • Carlyle in the formation of Carlyle Asia Growth Partners IV, a $1 billion Asia growth capital fund.
  • Clearwater Capital Partners in the establishment of an Indian credit platform, and the approximately $300 million collective co-investment by Clearwater Capital Partners and two other large global investors.
  • HarbourVest Partners in the formation of HIPEP Select Asia Fund, a $100 million China, India and Korea fund of funds.
  • Kedaara Capital Advisors in the formation of Kedaara Capital I, a $540 million India growth capital fund.
  • LeapFrog Investments in the formation of LeapFrog Emerging Consumer Fund III, a $700 million emerging markets-focused impact fund.
  • Lightspeed India Partners in the formation of Lightspeed India Partners III, a $275 million India venture fund.
  • Ontario Teachers’ Pension Plan in its investment in The National Investment and Infrastructure Fund of India. The deal won the “Private Equity Deal of the Year” category at the IFLR1000 India Awards.
  • Softbank Asia Infrastructure Fund in the formation of SAIF Partners IV, a $1.3 billion Asia and India growth capital fund.
  • Softbank Asia Infrastructure Fund in the formation of SAIF Partners III, a $1 billion pan-Asian growth capital fund.
  • Softbank Asia Infrastructure Fund in the formation of SAIF Partners II, a $643 million Asia and India growth capital fund.
  • Softbank Asia Infrastructure Fund in the formation of SB Asia Investment Fund II, a $643 million Asia and India growth capital fund.
  • SUN-Ares in various fundraising and co-investment activities in India.
  • SUN Group with its co-sponsorship in Westbridge Ventures II, a $200 million private fund investing primarily in technology opportunities in India.
  • An international alternative investment firm and leading Indian industrial conglomerate in their partnership to raise a $5 billion private fund targeting buyout and growth investments in India.
  • Advising various investors in their investments in ChrysCapital VIII, an $867 million India growth capital fund.
  • Advising various investors in their investments in Lightspeed India Partners II, a $175 million India venture capital fund.
  • Advising various investors in their investments in Sequoia Capital India V, a $920 million India growth capital fund.
  • Advising various investors in their investments in Tata Capital Growth Fund II, an India growth capital fund targeting $500 million in commitments.

• M&A/Private Equity & Buyouts

  • True North in its acquisition of a significant minority stake in Accion Group Holdings, a Pittsburg-based digital and innovation engineering company, from TA Associates and other shareholders.
  • TPG Growth in its takeover of the existing assets of the Abraaj Group’s $1 billion Global Healthcare Fund. The deal saw Debevoise win the Specialist Deal Legal Advisor category at the Private Equity Africa Awards.
  • LeapFrog Investments in its investment in MedGenome, a leading genetic diagnostics, research and data company focused on expanding access for populations in South Asia and other emerging markets, with operations in the U.S., India, Canada and Singapore.
  • A leading private investment firm in its contemplated acquisition of a controlling interest in eMids Technology, a healthcare information technology services provider in India. (Terminated)
  • A prospective bidder in the proposed sale of Reliance General Insurance, by Reliance Capital, through an auction process.
  • A leading private investment firm as bidder, in an auction process, for CitiusTech Healthcare Private Limited, an Indian healthcare information technology services company. (Terminated)
  • HarbourVest Partners in its secondary acquisition of a majority interest in Digital Prosperity Fund I and an associated co-investment vehicle, both managed by Amadeus Capital Partners, from MTN Group.
  • A consortium member in the Aion Capital-led consortium in its acquisition of the financial services business of GE Capital India.
  • A global private equity fund in its proposed investment in GMR Infrastructure and GMR SEZ Infra Services, Indian infrastructure companies.
  • A prospective consortium member in the acquisition of Arysta LifeScience, a NYSE-listed Platform Specialty Products Corporation's portfolio company, by India-listed UPL Group. (Terminated)
  • The Poddar family in the sale of their remaining shareholding in Ashirvad Pipes to Aliaxis.
  • HarbourVest Partners in its co-investment with ChrysCapital in the acquisition of equity interests in a leading pharmaceuticals company in India.
  • A global private equity fund in its investment in Feedback Infra, an Indian infrastructure services company.
  • HarbourVest Partners in its direct investment in Janalakshmi Financial Services, a non-banking financial services company in India.
  • Tata Group in its settlement in relation to telecom tower arrangements in India.
  • A private equity portfolio company and global manufacturer and distributor of high pressure laminates and other engineered composite materials, in its proposed investment in a materials company in India.
  • SBM Ventures in its investment in mPharma, an Africa-based company that manages prescription drug inventory for pharmacies and their suppliers in various African jurisdictions.
  • A global private equity fund in its proposed investment in Bharti Airtel, a telecom tower company in India.
  • Capital Group in its acquisition of a 40% equity stake in InterGlobe Technology Quotient.
  • Capital Group in its acquisition of an equity stake in Intas Pharmaceuticals, one of the largest pharmaceutical companies in India, from ChrysCapital, an India-focused private equity firm.
  • Capital Group in its direct investment in Mankind Pharma, a leading pharmaceutical companies in India through a secondary acquisition from ChrysCapital.
  • Capital International in its approximately $200 million acquisition of a minority stake in Mankind Pharma, an Indian pharmaceutical company.
  • Nereus Capital in its joint venture with Hareon Solar and Treasury Group to invest in solar projects in India.
  • AIF Capital as a selling shareholder in the sale of certain female healthcare businesses of Famy Care, the world’s largest producer of oral contraceptive pills, to Mylan.
  • A large India-headquartered pharmaceutical company in its acquisition of a UK pharmaceuticals company.
  • Exal Corporation in the buyout of Mankind Pharma’s stake in Casablanca Industries and a subscription of shares of Casablanca by Exal India BV.
  • Tribune Media Company in the acquisition by its technology and innovation arm, Tribune Digital Ventures, of What’s-ON, a leading television search and Electronic Program Guide data provider for India and the Middle East.
  • Helios Investment Partners in the acquisition by Helios Towers Africa of 3,100 telecommunications towers, located throughout Africa, from Bharti Airtel.
  • Asia Mezzanine Capital in its investment in SFO Technologies Private Limited of India, an IT design and manufacturing services provider to leading original equipment manufacturers worldwide.
  • The D. E. Shaw Group in its joint venture with Reliance Industries to create a broad financial services and investment business in the Indian markets.
  • Providence Equity Partners, a global private investment firm specializing in equity investments in media and entertainment, in its acquisition of an approximately 20% equity stake in Aditya Birla Telecom, a wireless communications company in India.
  • Providence Equity Partners in its $430 million investment in Aditya Birla Telecom, a subsidiary of Idea Cellular.
  • Merrill Lynch in its purchase of series A redeemable convertible preference shares of Winfort Global Ltd., a developer and licensor of advanced multimedia products and technologies for the digital video market, together with a redeemable convertible promissory note issued by Winfort and a warrant to purchase certain additional series A convertible redeemable preference shares of Winfort.
  • Merrill Lynch Asia in its investment in Bluechip Corporate Investment Centre.
  • Merrill Lynch in its investment in Foreign Currency Convertible Bonds issued by Webel SL Energy Systems Limited, the second largest producer of solar photovoltaic cells and modules in India, and listed on the Singapore Stock Exchange (SGX-ST).
  • Merrill Lynch in its pre-IPO investment in Religare Enterprises Limited, an Indian financial services company established by the promoters of Ranbaxy Laboratories Limited.
  • Merrill Lynch in its investment in Foreign Currency Convertible Bonds issued by Gemini Communication Limited, one of India’s leading networking solutions providers, and listed on the Luxembourg Stock Exchange.
  • CLSA Capital Partners in its investment in a company with refractory and monolithic operations in India and China.
  • Glaceau in its definitive agreement with The Tata Group to acquire 30% of Glaceau.
  • Capital Group in its investment in Manipal Universal Learning Private Limited, an Indian company that operates universities and educational campuses throughout India and in Nepal.
  • Capital International in its co-investment together with ICICI Ventures in Air Deccan, India’s first low-budget air carrier.
  • Ispat Industries in the formation of a joint venture to develop a coal mine in Maharashtra, India to supply coal to a local independent power plant.
  • Ispat Industries and its affiliates in their participation in a joint venture with Hughes Electronics and ALLTEL Corporation in the initial capitalization of Hughes Ispat Communications, which was awarded licenses to develop alternative telephone companies in the states of Maharashtra (including Mumbai) and Karnataka.
  • Capital International in its investment in Mindtree Consulting, a business solutions software development company.
  • Reliance Telecom in the project financing of its wireless telephone network in India.
  • JP Morgan International Capital Corporation in its investment in HCL Comnet Systems & Services Limited, a provider of VSAT and computer networking services in India, and the subsequent exchange of the investment for shares in HCL Technologies.
  • Motul, a French motor oil company, in a manufacturing joint venture in India with the Mafatlal Group.
  • AIG Opportunity Fund in its investment in Zip Telecom, an independent public access telephony service in India.

• Insurance/Financial Institutions M&A

  • AIA in its strategic partnership with Practo, India’s leading digital healthcare platform.
  • An international insurance intermediary in restructuring its joint venture in India to comply with new Indian owned and controlled requirements.
  • A leading international life insurance company in raising its equity stake in its Indian joint venture in light of the new Insurance Laws (Amendment) Bill.
  • AIA Group in its landmark exclusive bancassurance partnership with Citibank to distribute its insurance products to 11 countries in the Asia Pacific region. This was the largest ever bancassurance deal in Asia.
  • Standard Life in the formation of HDFC Standard Life Insurance Co. Ltd., a fund management joint venture in India launched in coordination with Housing Development Finance Corporation, India's biggest private sector bank.

• Disputes

  • Members of the Aditya Birla Group in parallel ad hoc Indian arbitration and LCIA arbitration proceedings. The dispute arose out of a joint venture regarding rights and obligations contained in an Indian law-governed Shareholders Agreement, and a related dispute as to certain terms contained in subsequent sale and purchase agreements signed several years later, and which were governed by English law with LCIA dispute resolution clauses provided therein. In the Indian arbitration, we won a jurisdictional ruling worth at least several hundred million dollars, allowing our client’s counterclaim to go forward. We then led the client through the witness and expert evidence phases before the case settled shortly prior to the first hearing for the cross examination of certain witnesses. These LCIA proceedings were stayed pending reaching the appropriate juncture in the related ad hoc Indian arbitration, at which time certain matters were to be referred back to the LCIA Tribunal for determination. As the parties reached an amicable settlement last year, both arbitral proceedings were jointly terminated by the parties. Lord Goldsmith KC acted as Lead Counsel, and led a team of lawyers based both in India and London.
  • A former outside director who was the Chairman of the Audit Committee of Satyam Computer Services Ltd., in the securities class action pending against the company and many of its former officials and any related inquiries.
  • Two of India's largest industrial and commercial conglomerates in an ad hoc arbitration over a joint venture in Idea Cellular, a national telecom provider.
  • A major Indian base metals mining company in an ongoing multimillion dollar dispute among the members of a JV for the establishment of a mining and refining operation in Africa.
  • Siemens’ Audit Committee in a worldwide investigation into possible corrupt payments to government officials leading to an early settlement with the U.S. and German authorities.
  • An Indian long distance carrier, in potential securities law claims against it and its former owner.
  • Serving as co-arbitrator in proceedings under the Purchase Order dated 29 September 2010 for a leading Engineering, Procurement and Construction (EPC) company.
  • Three Indian companies in two joint venture disputes brought against them by several Spanish entities. The disputes relate to a development of a sea water desalination plant in South India and are arbitrated under the auspices of the International Chamber of Commerce (ICC). Indian law applies as the substantive governing law. Lord Goldsmith KC acts as the leading counsel for the Respondents, in which role he is supported by both D&P team and local Indian counsel.
  • Bharat Aluminum Company in vacating an order attaching New York bank accounts to it as a prejudgment security, relating to an anticipated London arbitration.
  • Bharat Aluminum Company in defending a lawsuit filed in a U.S. court to confirm a foreign arbitral award.
  • An Indian industrial manufacturing company in various disputes.

• Capital Markets

  • Rain Commodities in its offering of securities through a qualified institutional placement in India and elsewhere internationally outside the U.S.
  • Macquarie India Advisory Services Private Limited in its placement of equity shares of Videocon Industries Limited.
  • Deccan Chronicle, a newspaper publishing company in India, in its $50 million private placement of shares to institutional investors.
  • Info Edge (India) Limited, one of India’s leading internet companies, in its initial public offering in India and international share placement.
  • Kalpataru Power Transmission Limited, a power transmission network and infrastructure development company in India, in its private placement of shares.
  • Merrill Lynch in an attempted U.S. SEC registered Yankee bond offering by ICICI, guaranteed by The Republic of India. (Terminated)
  • The Dhampur Sugar Mills Limited, a sugarcane products company, in its offering of its Global Depositary Shares listed on the Luxembourg Stock Exchange.
  • Tulip IT Services Limited, a telecommunications networking and services company in its domestic initial public offering.
  • International Finance Corporation and First Boston Corporation in the Global Depositary Receipt offering by Tata Iron and Steel Company.
  • HCL Technologies in its attempted registration with the U.S. SEC and listing on the NYSE.
  • Merrill Lynch in the attempted U.S. SEC registration and NYSE listing by Iridium India Telecom.
  • Satyam Computer Services in a pre-IPO advisory assignment.
  • Southern Petrochemical Industries in its GDR offering and Luxembourg Stock Exchange listing.
  • SSI Limited in its GDR offering and London Stock Exchange listing.
  • State Bank of India in its offering of rupee-denominated, dollar-linked certificates on deposit in the United States.