Deal
Brief:
PRYSMIAN CAVI
E SISTEMI ENERGIA S.R.L. (“Prysmian”), a global player in the
industry of high-technology cables and systems for energy and
telecommunications, acquired a equity stake of 51% through a combination
of share purchase and share subscription in Ravin Cables Limited (“Ravin
Cables”) at a consideration of appox.
INR 2,000 million. Ravin Cables will focus on expanding its presence in
Indian & Middle Eastern markets and towards manufacturing of high
technology and special industrial cables.
Ravin Cables
is a leading power cables manufacturer in India, having manufacturing
facilities in India as well as in the United Arab Emirate of Fujairah.
The manufacturing facility in Fujairah is held through Power Plus Cable
Co. LLC, a joint-venture between Ravin Cables and the Government of
Fujairah.
Prysmian
boasts a global presence with subsidiaries in 38 countries with over 50
manufacturing facilities and 7 Research and Development centres.
Prysmian is listed on the Milan Stock Exchange in the Blue Chip index. Our Role: We, at Nishith Desai Associates, acted as legal and tax counsel for Ravin Cables Ltd in this transaction. |
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