News & Events

Home > News & Events

Kochhar & Co. assists OIL and OVL in signing $2.47 billion deal

Oil India Limited (OIL) and ONGC Videsh Limited (OVL) have signed definitive agreements with Videocon Mauritius Energy Limited for acquiring 100% shares of Videocon Mozambique Rovuma 1 Limited, which holds 10% participating interest (worth US$ 2,475 million) in a giant gas project in Rovuma Area 1 Offshore Block in Mozambique. OVL and OIL will make the acquisition through a newly formed entity in which OVL shall own 60% and OIL 40% stake respectively.

Kochhar & Co. acted as the Indian counsels while Simmons and Simmons, Hong Kong were the international counsels for OIL & OVL; Amarchand & Mangaldas & Suresh A. Shroff Co. being the counsels for Videocon.

Kochhar & Co. advised OIL on all the transactional documents, litigation, taxation and general corporate issues involved. The team was led by Delhi Partner, Ngangon Junior Luwang with Associates, Avichal Prasad and Tarana Khan.


Best Viewed in 1024X768 Powered by: KLexServe