Trilegal Advised JSW Cement On The Sale Of Vadraj Energy To Nirma Group’s Nuvoco Vistas
Trilegal advised JSW Cement on the sale of Vadraj Energy to Nirma Group’s Nuvoco Vistas
The Leading Law firm in India, Trilegal advised JSW Cement Limited (JSW Cement) on the proposed sale of its securities in Algebra Endeavour Private Limited (Algebra), the holding company of Vadraj Energy (Gujarat) Limited (Vadraj Energy), to Nuvoco Vistas Corporation Limited (Nuvoco).
Algebra is engaged in advisory and investment activities, and its wholly owned subsidiary, Vadraj Energy, operates power plants in Kutch and Surat.
The transaction is structured as a secondary purchase of 100% of the securities of Algebra. JSW Cement, along with Alpha Alternatives Holdings Private Limited, the second seller, will receive a total consideration of INR 200 crore for the transaction.
The closing of the transaction is expected to take place within 10 days from the completion of the conditions precedent under the definitive agreements.
JSW Cement is one of the top Indian cement manufacturers, recognised for its rapid growth, specialisation in green cement solutions, and notable presence across India.
Earlier this year, Nuvoco acquired Vadraj Cement Limited for INR 1800 crore pursuant to a resolution plan approved by the National Company Law Tribunal. Nuvoco plans to integrate Vadraj Energy’s installations into its own power network to support captive consumption at its cement facilities.
Trilegal’s scope of work included reviewing, negotiating, and finalising the definitive agreements and advising on all aspects of the transaction.
The Trilegal Corporate team advising on the matter was led by Kosha Thaker (Partner), and included Adit Munshi (Senior Associate), and Tanisha Chivate (Associate).
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