ILP advised Chiyoda Corporation on engineering services JV exit with L&T through $10 million buyout
Indian Law Partners (ILP), a leading New Delhi-based Indian law firm, provided counsel to Chiyoda Corporation of Japan as it exited a 50:50 joint venture with L&T in engineering services. L&T purchased Chiyoda Corporation's stake in the venture for a total of USD 10 million.
Chiyoda received Indian law guidance on the deal from ILP, with Gopika Pant and Vineet Gupta leading the team of partners.
The ILP team received support from Nishant Kulhari, counsel, and Akshay Grover, Shradha Sharma, and Vinayek Mehra, senior associates and associate respectively.
Mori Hamada & Matsumoto provided international counsel for Chiyoda through its Japan and Singapore offices.
The joint venture between L&T and Chiyoda (LTC) offers engineering services for the hydrocarbon industry, catering to L&T's engineering, procurement, and construction business in the domestic and international markets.