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Carey Olsen advises on Infrastructure India’s acquisition of Indian Energy

Carey Olsen has been involved in an acquisition deal to buy AIM-listed company Indian Energy Limited (IEL) by Infrastructure India plc.

Indian Energy is currently one of the leading independent power producers in India and operates a wind farm in Karnataka and one in the state of Tamil Nadu. Infrastructure India, also AIM listed, provides investors with the opportunity to invest in Indian infrastructure assets across the country.

Carey Olsen acted for IEL on the corporate and regulatory aspects of the sale by scheme of arrangement and was the sole Guernsey legal adviser on the transaction.

The team from Carey Olsen included senior associate Tony Lane who advised on the corporate and regulatory matters involved in the takeover. Litigation partner Tim Corfield and associate Sarah Cakebread advised on the court proceedings involved with the scheme of arrangement. Covington & Burling LLP were the UK legal advisers to Indian Energy.

IEL Chief Executive Officer, Rupert J Strachwitz, says: "We were delighted that Carey Olsen acted for Indian Energy on the scheme which was one of the first to go through the Royal Court of Guernsey. The ease with which the transaction closed was in no small part due to the professionalism of the Carey Olsen team."

Advocate Lane says: “This was a particularly interesting transaction on which to advise as it raised a number of issues not previously encountered in schemes of arrangement in Guernsey. It has helped to further develop established practice in the Guernsey courts in relation to such schemes.”

Carey Olsen has previously advised Indian Energy on a number of transactions including its initial listing on AIM in 2009.

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