London-listed mines and energy company Vedanta Resources Plc is merging its two Indian units— Vedanta Ltd and Cairn India Ltd — in a move that will unlock about $2.6 billion in cash for the debt-laden parent, reports Mint..Khaitan & Co acted as domestic legal counsel on the merger. The Khaitan team was led by Partners Haigreve Khaitan and Sharad Abhyankar along with Associate Partner Mehul Shah, Principal Associate Tarunya Krishnan and Associate Harsh Kabra..Associates Soumyadri Chattopadhyaya, Aayush Mohata, Parvati Parkkot, and Umang Singh assisted on the corporate Due-Diligence..Executive Director Sudhir Bassi advised on Capital Markets issue while Executive Director Daksha Baxi advised on ESOPs. Associate Partner Dibyanshu advised on Energy, Infrastructure and Resources..Ashurst LLP acted as International legal counsel on the merger with a team led by London Partner Tom Mercer and Hong Kong Partner Stuart Rubin along with Singapore Counsel Ethan Perry..The merger makes it easier for Vedanta group, and its Indian holding company Vedanta Ltd, to access Cairn India’s cash reserves allowing the group to cut down its debt by utilising the cash pile of Cairn India.
London-listed mines and energy company Vedanta Resources Plc is merging its two Indian units— Vedanta Ltd and Cairn India Ltd — in a move that will unlock about $2.6 billion in cash for the debt-laden parent, reports Mint..Khaitan & Co acted as domestic legal counsel on the merger. The Khaitan team was led by Partners Haigreve Khaitan and Sharad Abhyankar along with Associate Partner Mehul Shah, Principal Associate Tarunya Krishnan and Associate Harsh Kabra..Associates Soumyadri Chattopadhyaya, Aayush Mohata, Parvati Parkkot, and Umang Singh assisted on the corporate Due-Diligence..Executive Director Sudhir Bassi advised on Capital Markets issue while Executive Director Daksha Baxi advised on ESOPs. Associate Partner Dibyanshu advised on Energy, Infrastructure and Resources..Ashurst LLP acted as International legal counsel on the merger with a team led by London Partner Tom Mercer and Hong Kong Partner Stuart Rubin along with Singapore Counsel Ethan Perry..The merger makes it easier for Vedanta group, and its Indian holding company Vedanta Ltd, to access Cairn India’s cash reserves allowing the group to cut down its debt by utilising the cash pile of Cairn India.