The law firm partner that represented ReNew Power Ventures (ReNew) said his team had less than a week’s time to conduct the legal review of KCT Renewable Energy prior to its successful bid for the company.
“There were multiple parties bidding for the acquisition and hence time was of prime essence to this deal, said Navin Syiem, partner at IndusLaw. “(We had) to ensure that the client had the relevant details in order to make an effective bid.”
ReNew acquired a 100% stake in the KCT unit for over ₹10 billion (US$155 million) from Karm Chand Thapar (KCT) Group. KCT Renewable Energy has three fully operational wind power projects with a total capacity of 103MW in the southern state of Andhra Pradesh.
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