Firms have advised on Indian company Inox Clean Energy’s acquisition of Dubai-based solar project developer SkyPower MENA for an undisclosed amount.
Khaled Al-Marri & Partners counselled on UAE law for Inox Clean Energy, which is backed by InoxGFL Group and one of India’s leading renewable energy companies, in connection with the acquisition.
The firm advised on the review, drafting and negotiation of the principal transaction documents, including the share purchase agreement and shareholders’ agreements, and provided regulatory guidance to ensure compliance with the applicable legal and procedural requirements of the Dubai International Financial Centre.
The Khaled Al-Marri & Partners team comprised founder Kushagra Ashok Arora, head of transactions and regulatory practice Himanshu Goswami and associate Simran Sharma.
The firm worked closely with InoxGFL’s in-house team led by Goviind Vijay, senior vice president and head of legal, and Remya Sanjiv, deputy general manager legal.
Cyril Amarchand Mangaldas (CAM) acted as Indian legal counsel to Inox Clean Energy and SkyPower Global.
CAM partners Ajay Sawhney and Rachika A Sahay led the team for Inox Clean Energy, which included principal associate Siddhant Satpathy, senior associate Mrinal Mishra and associate Govind Sharma.
Partners Ramanuj Kumar and Aiswarja Mohanty led the CAM team acting for SkyPower Global on India law, with associate Rashika Bhardwaj assisting.
Charles Russell Speechlys also counselled SkyPower Global, with Alex Reid, partner and head of corporate in the Middle East, leading the team. Senior associate Sevcan Aydemir (Zurich and Doha) and associate Mo Nawash (Dubai) assisting.
SkyPower MENA is a Dubai-based developer of utility-scale solar projects, focusing on the Middle East and North Africa region. Inox has partnered with RJ Corp in a joint venture to develop the SkyPower MENA business across multiple African economies.
