Sidley is advising Singapore-headquartered Sembcorp Industries on the sale of Sembcorp Energy India, one of the largest power producers in India, for INR117 billion, or approximately US$1.5 billion. The purchaser, Tanweer Infrastructure, is part of a consortium led by Oman Investment Corporation and the Ministry of Defense Pension Fund, Oman, one of Oman’s largest pension funds.
Sembcorp Industries is a leading global energy and urban development company focused on sustainability as its business. The sale of Sembcorp Energy India forms part of its strategy to accelerate the transition of Sembcorp’s portfolio from brown to green. Upon completion of the sale, 51% of Sembcorp Industries’ energy capacity will be renewable energy. Further information on the transaction can be found in Sembcorp’s SGX Announcement.
Lawyers from Sidley’s Singapore and Tokyo offices advised Sembcorp as international legal counsel. The team was led by Charlie Wilson (Singapore) and Daniel Lin (Tokyo) and supported by Ji Ung Kim (Singapore), John Inglis (Tokyo), Aritra Roy (Singapore), and Sarangan Rajesh Kumar (Singapore).