Trilegal advised France-based resource management group Veolia Environnement when India’s antitrust regulator approved its proposed acquisition of a stake in like-minded French multinational Suez, in a deal that values the latter at about USD14.5 billion.
Khaitan & Co advised Suez both in securing competition law approval, and on the corporate aspects of the deal’s India leg.
Hogan Lovells and Cleary Gottlieb Steen & Hamilton were international legal counsel to Veoli. Suez used the services of French law firms Bredin Prat and Darrois Villey Maillot Brochier.
Linklaters, along with French firms BDGS Associés and Cot Law acted as international legal counsel to a consortium of investors that is to acquire a stake in an entity called New Suez, which will emerge from the deal.
While the Competition Commission of India gave its approval to the deal on 23 November, the merger deal between the two Euronext Paris-listed companies was signed on 14 May and is expected to close at the end of the year. The EU’s antitrust regulator is yet to give its approval.
Trilegal’s team was led by its competition law partners Nisha Kaur Uberoi and Gautam Chawla. They were assisted by counsel Shravani Shekhar, senior associates Harshita Singh Parmar, Shambhvi Sinha and Rahat Dhawan and associates Aditi Khemani, Parumita Pal, Samriddha Gooptu, and Pramothesh Mukherjee. Partner Vaibhav Kothari advised on corporate law aspects of the deal.
Khaitan & Co’s team was led by partners Rabindra Jhunjhunwala and Anisha Chand, and comprised principal associate Purti Minawala, senior associate Soham Banerjee and associate Siddharth Bagul.
Veolia and Suez said the deal would create a group that will drive ecological transformation at the global level while, retaining its French and European roots.