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Nabarro corporate team completes Indian deals hat trick

17 February 2011

The corporate team of Nabarro LLP is advising AIM-listed Infrastructure India on both a placing to raise up to £33 million and its proposed acquisition of interests in infrastructure assets valued at US$191.5 million held by Guggenheim Global Infrastructure Limited (GGIC).

This represents the latest in a hat trick of transactions for Nabarro which has developed a growing portfolio of work for companies with an Indian focus.

The increased activity and interest of investors in these types of infrastructure projects follows the Indian government's decision to invest US $1 trillion over the coming years and to deregulate its power supply industry.

Nabarro corporate partner Alasdair Steele is leading the first time instruction for Infrastructure India which is an investor in the Shree Maheshwar Project, expected to be one of the largest privately owned Indian hydroelectric schemes when it is fully commissioned.

Last week Nabarro advised OPG Power Ventures, an AIM-listed developer and operator of Indian power plants, on a placing to raise £60 million. The Nabarro team on the OPG placement was led by corporate partner Martin Finnegan who also acted on a £76 million UK and US placing for SKIL Ports & Logistics to develop a Mumbai container port and logistics complex in October last year.

Commenting on the Infrastructure India transaction, Alasdair Steele said:

"The transaction has allowed us to combine our M&A and equity capital markets expertise with our knowledge of the Indian system to help Infrastructure India agree this transformational deal."

"With the scale of the budget set aside by the Indian government for domestic infrastructure projects, it's no surprise that the sector is so popular with investors. We see it as a significant opportunity for future work."

Ian Binnie, head of Nabarro's India Group added:

"The strength of Nabarro's India practice continues to grow with this hat trick of instructions. In 2010 our activities led to a debut in the International Thomson Reuters mid-market (22nd) and small cap (13th) rankings for India. With this experience and the recent opening of our Singapore office, we believe we are in a strong position to build on this momentum and expand our international client base for corporate and M&A work."

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