Khaitan & Co Advised STEAG Power GmbH On Divestment Of STEAG Energy Services (India) To Bluspring Enterprises
Khaitan & Co advised STEAG Power GmbH on divestment of STEAG Energy Services (India) to Bluspring Enterprises
The leading law firm in India, Khaitan & Co advised STEAG Power GmbH on the divestment of 100% of its stake in STEAG Energy Services (India) Private Limited to Bluspring Enterprises Limited.
STEAG Energy Services (India) Private Limited currently holds two subsidiaries: STEAG Energy Services (Botswana) (Pty) Ltd and STEAG O&M Company Private Limited, a joint venture with Hinduja Energy (India) Limited. Upon completion of the transaction, both entities will become step-down subsidiaries of Bluspring Enterprises Limited.
STEAG Energy Services (India) Private Limited is a key player in the power and energy sector, offering services including operation and maintenance of power plants, engineering consultancy, and software solutions aimed at enhancing plant performance. Bluspring Enterprises Limited, backed by Fairfax, is an integrated infrastructure services company with a presence across 28 states in India, serving sectors such as healthcare, education, BFSI, real estate, IT, telecommunications, manufacturing, and government undertakings.
Khaitan & Co acted as deal counsel and advised on all aspects of the transaction.
The core Khaitan & Co team was led by Rabindra Jhunjhunwala (Partner), with support from Kevin Shah (Counsel), Niyanta Munyal (Principal Associate), Ankush Unni (Associate) and Apurva Singhi (Associate). Shailendra Bhandare (Partner) provided limited intellectual property-related assistance.
STEAG Power GmbH was also represented by PwC India, with Rohit Govil (Partner) and Sriram Vijayaraghavan (Director).
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