Vinson amp Elkins Jones Day and Wachtell in Reliances 17 Billion JV

Mukesh Ambani’s Reliance Industries (RIL) has signed up a five-year development plan with US based Atlas Energy to develop a better part of the Marcellus Shale held by Atlas Energy. Reliance Industries is supposed to be providing capital for Atlas Energy..Reliance will invest about $1.7 Billion (Rs.7,600 Crore) in the joint venture. Finance Asia reports that Reliance will pay $339 million (Rs. 1,525 Crore) in cash and will fund $1.36 billion (Rs. 6,100 Crore) of the capital costs to acquire a 40% interest..American Lawyer mentions that Wachtell, Lipton, Rosen & Katz and Jones Day have advised Atlas Energy. Jones Day partners Jeffrey Schlegel and James Vallee led the firm’s team on the deal. Corporate partner David Lam led the Wachtell team along with litigation partner Jonathan Moses, finance partner Joshua Feltman, and tax partner Joshua Holmes..Vinson & Elkins’ Energy and Project finance partner, Douglas Bland is supposed to have advised Reliance. Vinson & Elkins have previously advised Reliance in relation to contracts for development of pipelines and deepwater wells. A statement from Reliance did not indicate the presence of any Indian law firm..Reliance’s billion dollar deals mean that several of the foreign law firms have advised RIL. Even Jones Day, who advised Atlas in this transaction, have previously advised RIL in several of its global acquisitions such as Tullow Oil. Davis Polk and Wardwell have advised Reliance in relation to two stake sale transactions along with India’s AZB & Partners. Ashurst and Linklaters are the firms who have advised RIL on its various acquisitions abroad