S&R Associates represented BW LPG, the world’s leading owner and operator of LPG vessels, in the formation of a 50-50 joint venture, BW Confidence Enterprise, with Confidence Petroleum India Limited, a listed company, to explore investment opportunities in onshore LPG import infrastructure.
S&R Associates also represented BW LPG in its proposed USD 30 million investment in Confidence Petroleum India Limited pursuant to a preferential allotment of equity shares, which will constitute 8.5% of Confidence Petroleum India’s issued and paid-up share capital on a fully diluted basis. The allotment is subject to shareholder approval and customary closing conditions.
S&R Associates also represented BW LPG in the formation of a joint venture between BW Confidence Enterprise and Ganesh Benzoplast Limited to fund the construction of a cryogenic LPG storage facility at Jawaharlal Nehru Port Association (JNPA) Port in Navi Mumbai, India.
The S&R team was led by partners Rajat Sethi and Rachael Israel, and included associates Apurv Sharma, Durga Prasad Mohapatra, Samyak Jain, Oorja Chari and Ameesha Tripathi on corporate matters; partner Sumit Bansal and associates Shivani Chhabra and Taranjeet Singh on direct tax matters; and partner Ajinkya Gunjan Mishra and associates Avani Tewari and Tarusha Airan on indirect tax matters.
For reference, please see below a press release in relation to the transaction: