Link Legal assists Megha Engineering & Infrastructures Ltd. in the acquisition of the oil & gas division of the Trevi Group based in Italy for approx. Euro 116.4 million

Megha Engineering & Infrastructures Ltd ("MEIL"), a leading infrastructure company in India, through its foreign subsidiary MEIL Global Holdings BV has acquired 100% of the Trevi Group's oil and gas division, comprising of Drillmec S.p.A (Italy), Petreven S.p.A (Italy) and Drillmec Inc (U.S.A.), and their 12 subsidiaries across the world (including Latin America, Middle East, Europe, Russia etc.) on a debt free basis, for an overall purchase price equal to approx. Euro 116.4 million (after adjustments), pursuant to the sale & purchase agreement dated August 5, 2019 between MEIL and Trevi – Finanziaria Industriale S.p.A., Trevi S.p.A., Soilmec S.p.A. and Trevi Holding USA Corporation ("Trevi Group"). The closing, which occurred in two parts, was completed on March 31, 2020.

MEIL Group is one of the major Indian groups in the infrastructure sector with yearly revenues of approximately Euro 2.5 billion and a strong financial profile. The target companies are globally recognized for manufacturing and servicing of rigs in the oil and gas sector and were part of the oil & gas division of Trevi Group, an Italian listed multinational group primarily dealing in infrastructure and construction. This transaction represents an integral part of the financial restructuring of the Trevi Group that started in August 2019, which has been led by the Chief Restructuring Officer of the Trevi Group.

Link Legal India Law Services was the lead counsel of the MEIL Group, comprising of Co-Managing Partner Nusrat Hassan, Partner Anand Srivastava, Associate Partner Yosham Vardhan, Associate Deepali Menghwani, Associate Neil Lopez and Associate Rahil Thakkar assisted the MEIL Group in drafting, negotiations and finalisation of the transaction documents and closing of the transaction and co-ordinating with law firms in several jurisdictions.

Link Legal Team in the midst of Coronavirus pandemic continued to seamlessly work with all the stakeholders and post the lockdown restrictions in Italy, India and other jurisdictions, successfully closed the transaction with lawyers and stakeholders all operating from home in several jurisdictions. MEIL Group was also assisted by the law firm Gatti Pavesi Bianchi with Partner Gianpaolo Scandone and Counsel Vincenzo Di Ferdinando on Italian law aspects, Hanson Bridgett on US law aspects and other international law firms in various jurisdictions.

The Trevi Group was assisted by law firm Gianni, Origoni, Grippo, Cappelli & Partners as lead counsel with a team led by Partners Antonio Segni and Stefano Cirino Pomicino, assisted by Associate Davide De Franco and also other law firms such as Tremonti Romagnoli Piccardi e Associati, Steptoe & Johnson LLP, Morgan, Lewis & Bockius and PricewaterhouseCoopers, for the legal aspects.