Singapore, 23 August 2004LAWFUEL – Best for legal news, law news, law articles – Baker & McKenzie and AZB & Partners (India) jointly advised Tata Iron and Steel Company Limited (“Tata Steel”) on its acquisition of all steel businesses of NatSteel Limited (“NatSteel”) for approximately USD285,000,000 with adjustments.
The regional acquisition covers NatSteel’s steel and related operations in Singapore, China, Thailand, Malaysia, Vietnam, Indonesia, the Philippines and Australia. The transaction is expected to be completed within the next 5-6 months.
The team from Baker & McKenzie was led by Singapore Corporate and Commercial Group Head, Ai Ai Wong with assistance from Kelvin Poa, Ben Benjamin and Janice Gan. They were supported by lawyers from Baker & McKenzie’s Asian offices.
From AZB & Partners, the team was led by Zia Mody (Partner) and Akshay Chudasama (Partner) with assistance from Prashant Deshpande.
Commenting on the deal, Ai Ai Wong said, “It is a privilege for us to be representing Tata Steel in their first major acquisition overseas and perhaps the largest Indian investment into Singapore to date. The deal, involving 8 countries, also allowed us to showcase our cross-border execution capabilities as we were able to deal with the multitude of regional issues in an efficient and seamless manner. This is also the first time that we have teamed up with AZB & Partners on a regional acquisition of this size, and the experience has been an excellent one.”