LG advises leading AIM-listed Indian renewable energy company on £72 million placing
3 March 2010
International business law firm Lawrence Graham LLP (LG) has advised Greenko Group PLC ('Greenko') – the AIM traded Indian owner and operator of clean energy projects – on a £72 million fundraising by way of a placing of ordinary shares by Arden Partners plc and Mirabaud Securities LLP.
Greenko will use the funds to develop its existing schemes as well as to exploit future opportunities in order to take Greenko over half way to its 2015 target of 1,000 MW of clean energy operating capacity.
The LG team advising Greenko included Corporate partners Sunil Kakkad, head of LG's India Group, and Michael Lacey and Corporate solicitor Kris Rogers.
Sunil said: "The transaction will enable Greenko to reach its near term strategic objectives and to increase its presence in the Indian renewable energy market. I am delighted that our team was once again able to assist Greenko with a significant transaction."
An affiliate of TPG Growth participated in the placing which represents the first significant investment in clean energy in India by TPG. TPG Growth is the growth equity investment platform of TPG, the global private investment firm.
This is the second transaction which LG has advised Greenko on in recent months, having also advised Greenko at the end of 2009 on a US$46 million investment by Global Environment Fund, the US clean technology private equity house.
Notes to editors:
- LG advises entrepreneurial and growth market clients seeking to raise capital for their business ventures. We are named as adviser to nine of the AIM 100 companies, with no other firm listed as acting for more than five.
- LG is also ranked as the no. 1 legal adviser by market capitalisation of all AIM companies (Hemscott, January 2010)
- LG's dedicated India Group has extensive experience of advising Indian businesses on their international expansion and a significant track record of advising Indian companies and funds that have raised capital on AIM.
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