Jones Day Advises Leading Indian Conglomerate On History-Making QIP

Monday, August 30, 2010 - 01:00

Jones Day advised Adani Enterprises Limited in connection with its US$850 million Qualified Institutional Placement (QIP), the largest QIP in the history of Indian capital markets. Adani Enterprises Limited is the flagship company of The Adani Group, one of India's largest conglomerates.

The financing was arranged by DSP Merrill Lynch Limited, Morgan Stanley India Company Private Limited, Citigroup Global Markets India Private Limited, UBS Securities India Private Limited, IDFC Capital Limited, Enam Securities Private Limited, ICICI Securities Limited, and Kotak Mahindra Capital Company Limited and totaled INR40 billion (US$850 million) of Equity Shares in a QIP pursuant to Rule 144A and Regulation S.

The Jones Day team was led by Hong Kong-based capital markets lawyer Jeffrey Maddox, who was supported by Ankit Kashyap, based in Singapore, and Alvin Cheung, based in Hong Kong.

In addition to advising on the Adani Enterprises Limited QIP, Jones Day recently advised on Adani Power's US$625 million IPO in August 2009. That transaction was led by Jeffrey Maddox and Manoj Bhargava.

Jones Day partner Leslie Overton has received the "Nation's Best Advocates: 40 Lawyers Under 40" award from the National Bar Association (NBA) and IMPACT. The award was presented during a gala held August 8, 2010, at the NBA's 85th Annual Convention in New Orleans.

Ms. Overton, a partner in Jones Day's Antitrust & Competition Law Practice, represents companies in government investigations of mergers, acquisitions, joint ventures, and nonmerger matters before the U.S. Department of Justice Antitrust Division, the Federal Trade Commission, and state antitrust enforcers. She also regularly counsels clients regarding antitrust compliance issues. Her work includes SAB Miller's joint venture with Coors, Blue Cross Blue Shield of Michigan's acquisition of M-Care, TV Guide's combination with Gemstar, and Procter & Gamble's acquisition of Gillette.

Before rejoining Jones Day in 2004, Ms. Overton served in the DOJ Antitrust Division. Ms. Overton also serves on Jones Day's Advisory Committee and has chaired the Washington Office's Diversity Committee, and is currently the Secretary and Communications Officer of the American Bar Association Section of Antitrust Law.

Jones Day has announced that Of Counsel Sébastien Evrard has relocated from its Brussels Office to its Beijing Office. Mr. Evrard handles complex antitrust matters including merger control, non-merger investigations, and litigation in Europe and China, with a particular focus on antitrust aspects of intellectual property.

Representative clients include Apple, Dell, ICANN, KPN Group, Procter & Gamble, SanDisk, SES ASTRA, and Viacom/MTV.