Khaitan & Co advised STEAG Power GmbH in relation to the divestment of 100% of its stake in STEAG Energy Services (India) Pvt Ltd to Bluspring Enterprises Ltd.
STEAG Energy Services (India) Pvt Ltd currently holds two subsidiaries: STEAG Energy Services (Botswana) (Pty) Ltd, a wholly owned subsidiary incorporated in Botswana, and STEAG O&M Company Pvt Ltd, a joint venture with Hinduja Energy (India) Limited. Both entities will become step-down subsidiaries of Bluspring Enterprises Ltd upon completion of the divestment.
STEAG Energy Services (India) Pvt Ltd is a prominent player in the power and energy industry, providing services such as operation and maintenance (O&M) of power plants, engineering consultancy, and the supply of software and related solutions aimed at improving plant performance.
Bluspring Enterprises Ltd, backed by Fairfax, is one of India's foremost integrated infrastructure services companies, with a presence across 28 states. It serves clients in a diverse range of sectors, including healthcare, education, banking and financial services, commercial real estate, IT, telecommunications, manufacturing, and government undertakings.
The Firm acted as the deal counsel for STEAG Power GmbH and advised on all aspects of the transaction.
The deal was assisted by:
Intellectual Property: Shailendra Bhandare (Partner)
The core team consisted of Rabindra Jhunjhunwala (Partner), Kevin Shah (Counsel), Niyanta Munyal (Principal Associate), Ankush Unni (Associate), and Apurva Singhi (Associate).