Latham & Watkins and Cyril Amarchand Mangaldas have advised a Japanese consortium on its $370 million primary investment into India’s AG&P LNG Marketing.
The buyer consortium comprised Osaka Gas, Sumitomo Corporation, and Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN), a Japanese government-private sponsored infrastructure investment fund.
AG&P is an energy player in India with a city gas distribution network covering 28 districts. It has investments in THINK Gas, which holds seven licenses, mainly in north-central India, and AG&P Pratham, which holds 12 licenses, mainly in southern India.
The Latham team was led by Singapore partner Sidharth Bhasin and Tokyo partner Hiroki Kobayashi.
The CAM team was led by project finance partners Ajay Sawhney and Aditi Mishra. Corporate partner Sreetama Sen, employment partner Ankita Ray, capital markets partners Kranti Mohan and Janhavi Seksaria, antitrust partner Vijay Chauhan, and disputes partner Kapil Arora also assisted on the deal.
