Recognition

Davis Polk was awarded “International Law Firm of the Year – India” at the first annual Chambers Asia Awards 2010.
Davis Polk was named “Private Equity Team of the Year” at the International Financial Law Review’s 2010 India Awards.
We won the M&A Atlas "Asia Infrastructure Deal of the Year" in connection with our representation of Morgan Stanley Infrastructure Fund in its investment in Asian Genco Pte. Ltd. – the investment represents the largest private equity transaction in the India power sector to date.
We also won the M&A Atlas "India Private Equity Deal of the Year" for advising Quadrangle Capital Partners on a combined equity and debt financing by a Quadrangle-led consortium of international investors in TowerVision India.
Davis Polk ranked 4th among U.S. law firms in Indian M&A transactions announced in 2010 (by deal count) (Bloomberg).

Notable Matters

Reliance Industries/Reliance Petroleum. We served as special U.S. counsel to Reliance Industries, a Mumbai, India-based oil and gas exploration and production company, in connection with its acquisition of the remaining 24.62% stake which it did not already own in Reliance Petroleum, an oil and has refiner based in India, for approximately $1.7 billion.
Morgan Stanley Infrastructure Partners/Asian Genco. We advised a consortium of investors led by Morgan Stanley Infrastructure Partners in connection with an investment of approximately US$425 million in Asian Genco Pte., a Singaporean infrastructure development company with investments in Indian power generation assets and engineering services businesses.
Quadrangle Capital Partners/Tower Vision. We advised Quadrangle Capital Partners on a $300 million combined equity and debt financing by a Quadrangle-led consortium of private equity investors in Tower Vision, an Indian telecom tower management company based in Delhi and the second-largest telecom independent tower management company in India. This investment marks Quadrangle’s first transaction in Asia.

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Sodexo/RKHS. We advised Sodexo, a French food and facilities management services provider, on its acquisition of the Radhakrishna Hospitality Services Group, a food and facilities management services provider based in India. The financial terms of the transaction were not disclosed.
Alliance Tire Group/GPX. We advised the Alliance Tire Group on its acquisition of the U.S. operations of GPX International Tire Corporation, including its U.S. assets, customer relationships and warehouse footprint, worldwide rights to the Galaxy and Primex brands, its medium radial truck tire distribution business and its South African subsidiary. Alliance is owned by India's Mahansaria family and Warburg Pincus, a leading global private equity firm.
Warburg Pincus/QuEST Global Services. We are advising Warburg Pincus on its approximately $75 million minority investment in QuEST Global Services, a provider of outsourced engineering service with delivery centers in India, the United States, the United Kingdom, Germany, Italy, Spain, France and Japan.
BearingPoint. We advised McLean, Virginia-based BearingPoint, a global consulting firm, in connection with its $25 million sale of its North American Commercial Services business and associated Global Delivery Centers to PricewaterhouseCoopers. The transaction included a sale of BearingPoint's entire equity interest in BearingPoint Information Technologies (Shanghai) Limited, its wholly owned China global development center, and a sale by BearingPoint Business Consulting Pvt Ltd of substantially all of the assets of its India global development center.
Morgan Stanley Private Equity Asia/Biotor. We advised Morgan Stanley Private Equity Asia on its Rs. 1.82 billion (US$38.5 million) investment in Biotor Industries, Ltd., an Indian manufacturer of castor oil and its derivatives.
Goldman Sachs/SpiceJet. We advised Goldman Sachs in connection with its exercise of warrants representing 6% of the share capital of SpiceJet Limited, a New Delhi-based Indian airline.
Goldman Sachs/SpiceJet. We advised Goldman Sachs on the sale of its holding of foreign-currency-denominated bonds in SpiceJet Limited, an Indian airline listed on the Bombay Stock Exchange, to purchasers affiliated with Wilbur L. Ross Jr. The financial terms of the transaction were not disclosed.
Citadel Equity Fund/Horizon Countrywide. We advised Citadel Equity Fund on its acquisition of a minority interest in Horizon Countrywide Limited, an Indian company in the business of warehousing. The transaction value was not publicly disclosed.

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