Khaitan & Co acted as the sole and lead legal counsel for Tata Realty form joint venture to invest $700 mn in commercial space.
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HEADINGS |
DETAILS |
| 1. | Sector | Real Estate / Private Equity |
| 2. | Announcement Date | 08-Apr-2022 |
| 3. | Completion Date | |
| 4. | Name of Client | Tata Realty and Infrastructure Limited |
| 5. | Deal Description | Advised Tata Realty and Infrastructure Limited (TRIL) in setting up of potentially one of India’s largest joint venture platforms in the commercial real estate space with Canada Pension Plan Investment Board (CPPIB), and investment by CPPIB and sale of stake by TRIL to CPPIB in two of TRIL’s existing assets (Intellion Park, Chennai and Intellion Park, Gurgaon). |
| 6. | Total Consideration | USD 700 million |
| 7. | Team Members | The core team consisted of Siddharth Shah (Partner), Aashutosh Sampat (Partner), Tanushree Bhuwalka (Partner), Rohan Shrivastava (Principal Associate), Soumil Garg (Senior Associate), Saloni Mehta Bhandawat (Senior Associate), Akash Srinivasan (Associate), Lakshya Thukral (Associate) and Pranita Parakh (Associate) with assistance from the following:
Competition Law aspect: Anisha Chand (Partner) and Soham Banerjee (Principal Associate) Financing aspect: Manisha Shroff (Partner), Dipayan Dash (Principal Associate) and Nandini Paliwal (Principal Associate) Vendor Due Diligence: Avnish Sharma (Partner), Sudheer Madamaiah (Partner), Kshitij Bishnoi (Partner), Hetal Thakkar (Counsel), Kartik Shiv Kumar (Principal Associate), Pritali Patil (Senior Associate) and Reshma Abraham (Senior Associate) |
| 8. | Role of Firm | Khaitan & Co acted as the sole and lead legal counsel for Tata Realty and Infrastructure Limited for:
(1) setting up the JV platform for development and operation of commercial office space; and (2) sale of stake in, and investment by CPPIB in, entities owning and operating the Intellion Edge, Gurgaon (Office Led Project having a GLA of 1.8 million square feet) and Intellion Park, Chennai (Office Led Project having GLA of 4.6 million square feet). |
| 9. | Financial Advisors | For Tata Realty and Infrastructure Limited – Ernst and Young For CPPIB – PwC |
| 10. | Other legal advisors if any with names of Lead Lawyers | Torys LLP (CPPIB’s offshore counsel) Trilegal (CPPIB’s India counsel) |