Shardul Amarchand Mangaldas & Co Advises Cube Highways and Infrastructure on the Rs. 575 Crores Acquisition of Western UP Tollway

The Shardul Amarchand Mangaldas & Co team was led by Mr. Jatin Aneja, Partner, and included Ms. Anubhuti Agarwal,(EX- SAM & Co Partner), Mr. Siddhartha Sen, Principal Associate, Mr. Varun Nair, Senior Associate and Mr. Dhrupad Pant, Associate. The Team was involved in all legal aspects of the deal including structuring, drafting, negotiating and finalization of the transaction documents, and assisting in completion of closing related formalities.

As a part of the transaction, Cube Highways and Infrastructure Pte Limited has agreed to acquire a 100% stake in Western UP Tollway Limited (“ Company”) from NCC Limited, NCC Infrastructure Holding Limited, Gayatri Projects Limited and Gayatri Infra Ventures Limited (collectively the “Sellers”).

The parties involved in the transaction were Cube Highways and Infrastructure Pte Limited (Our Client – Acquirer), NCC Limited, NCC Infrastructure Holding Limited, Gayatri Projects Limited, Gayatri Infra Ventures Limited; and Western UP Tollway Limited.

Deal Value: Enterprise value of INR 575 crores (subject to certain closing adjustments).

Date of Closing: The deal is expected to be closed by March, 2016 – subject to fulfilment of conditions precedent.

Other Advisor to the transaction were Tatva Legal (legal advisor to the Company and the Sellers) and E&Y (financial advisor to the Company and the Sellers).