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News Jan 12, 2015

Shearman & Sterling Recognized by IBLJ for Three ‘Deals of the Year’

Shearman & Sterling was recognized for its involvement in three high-profile transactions by India Business Law Journal (IBLJ), all of which were named Deals of the Year. The winning deals were chosen based on “novelty, legal and regulatory complexity, and any precedents that may have been established,” according to IBLJ.

“We are delighted to once again be recognized by the India Business Law Journal for our India-related work,” said Shearman & Sterling partner Sidharth Bhasin, who helps lead the firm’s India Practice. “We continue to represent leading corporates and financial sponsors and institutions in their most critical India-related transactions and these awards are a testament to our leading India practice and showcase our strength across practice groups. We have had an excellent year in India and are hopeful that the coming year will be even better.”

The following winning deals will be featured in the IBLJ’s December 2014/January 2015 issue:

  • Jaguar Land Rover Automotive’s high yield offerings. Shearman & Sterling represented Jaguar Land Rover Automotive PLC on its offering of £400 million fixed rate high yield bonds due 2022 and US$500 million fixed rate high yield bonds due 2019. The high yield senior notes are unsecured and guaranteed by Jaguar Land Rover Limited and Jaguar Land Rover Holdings Limited. Jaguar Land Rover Automotive PLC, an indirectly-owned subsidiary of Indian-owned Tata Motors Limited (India), bought luxury carmakers Jaguar Land Rover Limited and Land Rover in 2008.
  • Greenko Group’s senior notes and bonds financing. The firm advised Greenko Group PLC and Greenko Dutch B.V. in connection with the offering of US$550 million 8.00% Senior Notes due by Greenko Dutch B.V., unconditionally guaranteed by Greenko Group PLC on a senior basis. The offering was particularly unique with a transaction structure seen for the first time in the Indian market. It involved a SPV issuer of the high yield bonds that lent the money to Greenko Group PLC’s Indian operating subsidiaries.
  • Sun Pharmaceutical’s acquisition of Ranbaxy. Shearman & Sterling is advising Sun Pharmaceutical Industries Ltd. on its acquisition of Ranbaxy Laboratories Ltd. in a transaction valued at US$4 billion. Established in 1983, listed since 1994 and headquartered in India, Sun Pharmaceutical Industries Ltd. is an international integrated specialty pharmaceutical company.