Saraf and Partners and Dentons Link Legal have counselled on JSW Infrastructure’s acquisition of 70.37% in Navkar Corporation, through its wholly owned subsidiary, JSW Port Logistics, for INR10.12 billion (USD121 million).
“Navigating the intricacies of a deal between two listed entities presented a unique set of challenges, yet it was an invigorating experience,” said Vivek Pareek, a Saraf partner who co-led the transaction team with senior partner Bikash Jhawar advising JSW.
“The acquisition by JSW is a testament to their strategic vision in the logistics and cargo transit service industry. Working alongside the JSW team on this landmark deal was a remarkable journey that showcased our firm’s ability to steer complex transactions to a successful execution – now we are looking forward to the closure in the coming days.”
Partner Anuj Trivedi led the Dentons Link Legal team advising the Navkar Corporation and its promoters. Principal associate Kartikeya Singh and associate Dakshita Arora assisted the team.
The acquisition signals JSW Infrastructure’s strategic entry into the logistics and cargo transit service industry and enhancing its ability to offer improved port connectivity and streamlined supply chain solutions.
Under the transaction, JSW Port will make a mandatory open offer under the provisions of the Takeover Regulations, constituting 26% of the voting share capital of Navkar Corporation.
JSW Infrastructure is a part of the JSW Group and is 含羞草社区 second-largest private commercial port operator. Navkar Corporation is a container freight station operator in India with two sites, Ajivali and Somathane in Panvel, Maharashtra state.
Both JSW Infrastructure and Navkar Corporation are listed companies on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
