Skadden Arps Slate Meagher & Flom

Editorial analysis

    Skadden represents Indian and global companies on India-related business transactions in a variety of sectors, having been active in the country since the early 1990s. Clients include corporate acquirers, sellers and investors’ M&A deals and international joint ventures; multinationals in restructurings and divestitures; companies outsourcing to India as well as Indian service providers; underwriters, issuers and investment advisers in international corporate financings; and Indian companies and international investors and their advisers on cross-border disputes as international counsel. 

    The firm has been involved in numerous highprofile deals in the subcontinent in recent years, including acting for Bank of America Merrill Lynch, ICICI Securities Limited, Axis Bank Limited and IDBI Capital Market Services as managers in a $315 million qualified institutional placement of shares by GMR Infrastructure, an operator and developer of power plants, toll roads and airports in India; advising Credit Suisse Securities (India) as underwriter in the $175 million offering of equity shares by way of a qualified institutional placement with an offering under Rule 144A/Regulation S by Jaiprakash Power Ventures, a developer and operator of hydroelectric, thermal and transmission power projects in India; and representing France’s Capgemini in the acquisition of a 51 per cent stake in Unilever India Shared Services, which provides finance and accounting outsourcing services, from Hindustan Lever.

    Respondents to our survey praised the “exceptional” work of Singapore corporate partner Rajeev Duggal, who recently acted for Goldman Sachs as broker in connection with an “Offer for Sale” on the Bombay and National Stock Exchanges of approximately 29 million shares of India-based Jaiprakash Power Ventures. Jonathan Stone is head of Skadden’s Corporate practice in Asia excluding Japan and also comes highly recommended for his India-focused work: he advised Nomura Holdings in its acquisition of the Indian outsourcing subsidiaries of Lehman Brothers and India Limited in its shelf registration and takedown.