Herbert Smith Freehills, Cleary Gottlieb Steen & Hamilton, Khaitan & Co., and Amarchand & Mangaldas & Suresh A Shroff & Co. advised on a recent $2.14 billion share sale by Indian state-owned power company NTPC Ltd.
The sale by the Indian government of India amounted to 9.5 percent of the company. The government has engaged in a number of such deals, including sales of stakes in Oil India Ltd. earlier this month and mining company NMDC Ltd. in December, as part of an effort to raise $6 billion to help close its budget deficit.
Herbert Smith Freehills London partner Steven Theirbach and Singapore counsel Siddhartha Sivaramakrishnan served as international and U.S. advisors to NTPC, with Indian firm Khaitan partners Nikhilesh Panchal in Mumbai and Sharad Vaid in New Delhi advising on matters of local law.
Cleary Gottlieb London partner Sebastian Sperber and Amarchand New Delhi partner Prashant Gupta represented transaction brokers Citigroup Inc., Deutsche Bank AG, Goldman Sachs, Kotak Mahindra Bank Ltd., Morgan Stanley, and SBI Capital Markets, the investment banking arm of the State Bank of India.
Email: tbrennan@alm.com .