Shardul Amarchand Mangaldas & Co. advises Brookfield on acquisition of a majority stake in Leap Green Energy Private Limited

July 22, 2024

Shardul Amarchand Mangaldas & Co. advised Brookfield on acquiring a majority stake in Leap Green Energy Private Limited (Leap Green). Brookfield has provided an upfront commitment to make an equity investment of over US$200 million in Leap Green, through a combination of subscription of new shares and acquisition of shares from current shareholders. Additionally, Brookfield has an option to infuse further US$350 million of incremental equity capital to support the future growth of the business.

 

Leap Green is engaged in the business of setting up, acquiring, operating and managing wind, solar and hybrid power generating projects and sale and storage of power generated from wind, solar and hybrid power generating projects, across India.

 

The transaction team was led by Karun Prakash, Partner, Nirmal Mahtani, Partner, Tanay Khanna, Principal Associate, Bhavna Hemrajani, Associate, and Ruthvik Tumuluri, Associate.

 

The due diligence team was led by Karun Prakash, Partner, V R Neelakantan, Partner, Mrinal Sharma, Partner, Kriti Kaushik, Partner, Mrinal Kumar, Partner, Aarthi Lakshminarayanan, Partner, Shrutikirti Kumar, Partner, Tanay Khanna, Principal Associate, Charu Mehrish, Principal Associate, Lipsa Acharyya, Principal Associate, C M Paramaguru, Principal Associate, Suryansh Gupta, Principal Associate, Siddharth Jain, Senior Associate, Indira Shanker Reddy, Senior Associate, Ayush Sharma, Associate, Bhavna Hemrajani, Associate, Simran Khullar, Associate, Sukoon Dinodia, Associate, Madhvi Vangani, Associate and Saharssh K S, Associate.

 

The competition team was led by Aparna Mehra, Partner, Kshitij Sharma, Senior Associate, and Karan Arora, Associate.

 

The regulatory team was led by Devesh Pandey, Partner and Tryambica Singh, Associate. The ABAC team was led by Alina Arora, Partner, Apurva Zutshi, Partner, and Noaman Bin Mohammed Mujahed, Senior Associate.

 

The insurance team was led by Shailja Lal, Partner, and Uday Opal, Principal Associate. Brookfield was advised by Ernst & Young on the tax and financial aspects.

 

Leap Green and its founder, Mr. Rajeev Akshay Karthikeyan and Mr. Dev Anand Vijayan were advised by AZB & Partners (Delhi) and PwC on the legal, and financial and tax aspects, respectively.

 

The majority private equity selling shareholder was advised by AZB & Partners (Mumbai) on the legal aspects.