Cyril Amarchand Mangaldas advises Adani Ports on acquisition of Indian Oiltanking

Cyril Amarchand Mangaldas advised Adani Ports and Special Economic Zone Limited (Adani Ports) on its acquisition 49.38% shareholding in Indian Oiltanking Limited (IOTL) from Oiltanking India GmbH as well as 10% shareholding in IOT Utkal Energy Services Limited from Oiltanking GmbH. Business Wire India

Cyril Amarchand Mangaldas advised Adani Ports and Special Economic Zone Limited (Adani Ports) on its acquisition 49.38% shareholding in Indian Oiltanking Limited (IOTL) from Oiltanking India GmbH as well as 10% shareholding in IOT Utkal Energy Services Limited from Oiltanking GmbH. IOTL is one of India’s largest developer and operator of liquid storage facilities, and post this transaction, Adani Ports would become India’s largest third-party liquid tank storage player.

The General Corporate Practice of Cyril Amarchand Mangaldas advised Adani Ports on the transaction. The transaction team was led Paridhi Adani, Partner; Mudit ShahPartner; with support from Saurabh SharmaPrincipal AssociateAkshay ZaveriAssociate; and Rishabh Manihar, Associate.

Other Parties and Advisors to the transaction included Ernst & Young (acted as financial advisor for Oiltanking India GmbH).
 
The aggregate value of the Transaction is INR 1,050 crores (approx.)
 
The transaction was signed on November 09, 2022.

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