AZB & Partners (AZB) and Krishnamurthy & Co (K Law) advised Reliance New Energy Solar, a subsidiary of Reliance Industries, when it agreed to a INR2.85 billion (USD385 million) acquisition of a 40% stake in Sterling & Wilson Solar, a Shapoorji Pallonji group company.
Desai & Diwanji advised Sterling & Wilson Solar and the selling shareholders, Shapoorji Pallonji and Company and Khurshed Daruvala, chairman of Sterling & Wilson.
The deal was announced on 10 October and is subject to regulatory and closing conditions.
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