Made up of a dedicated team of experts based in Singapore, New York and London, White & Case’s India practice represents multinational corporations; commercial and investment banks; private equity, alternative investment and sovereign funds; multilateral institutions; and governmental entities from around the world pursuing opportunities in India. Despite losing corporate specialist Nikhil Narayanan to Amarchand in May, the firm’s India team has had a strong year and continues to be “a really great resource for Indian and foreign clients” according to respondents to our survey.
White & Case acted for Russian telecoms group Sistema when it issued a notice of arbitration, invoking the terms of the Russia-India BIT, in the infamous 2G spectrum case (making Sistema the first party to do so). In the past year, meanwhile, the firm acted alongside Amarchand on behalf of a consortium made up of Dubai’s IDBI Bank and London’s Standard Chartered Bank in their $250 million loan to Wardha Power.
In recent years the firm has represented GMR Group in acquiring a 50 per cent stake in Intergen NV, and in entering into a definitive agreement for the sale of its 50 per cent stake in InterGen NV to an affiliate of China Huaneng Group for $1.232 billion. The team also advised Lehman Brothers in the partial exit of its position in KSK Energy Ventures for approximately $175 million; acted for NDTV on the sale of a 26 per cent stake in NDTV Networks to NBC Universal for $150 million; and represented KEC International in its acquisition of SAE Towers Holdings for $95 million. On the financial services side, the practice has acted for China Development Bank and Deutsche Bank in Indian investments, and the capital markets team have represented DLF, Kotak Mahindra Capital and Edelweiss Capital in India-related IPOs.
The practice’s energy lawyers have been involved in such matters as the representation of BNP Paribas, as structuring bank, and a syndicate of 10 Indian lenders in the $670 million financing of a chlor-alkali petrochemical facility in Port Said, Egypt, and the representation of Petronet LNG in the development, construction and financing of a $600 million LNG facility at Dahej.