Sidharth Bhasin

Sidharth’s regular clients include:

Private Equity

• Blackrock
• Caisse de dépôt et placement du Québec (CDPQ)
• GIP
• Goldman Sachs
• ICG
• I Squared Capital
• Macquarie
• OMERS
• Ontario Teachers’ Pension Plan (OTPP)

Corporates

• Aditya Birla Group
• AES
• Danone
• GE
• JERA
• MIND ID
• Sumitomo
• Tata Group

His transactional experience includes advising:

Private Equity

• ADV Partners in connection with various investments in Asia*
• An infrastructure fund on its strategic solar power joint ventures across Southeast Asia, Korea, and India*
• Caisse de dépôt et placement du Québec (CDPQ) in its US$365 million acquisition of a 40% interest in CLP India Private Limited (renamed Apaarva Energy), and follow-on investment in Apaarva Energy*
• Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan Board in their co-investment with MBK Partners in the acquisition of shares of Woongjin Coway Co. Ltd.*
• Canada Pension Plan Investment Board in its co-investment with Anchor Equity Partners Fund I, L.P. and other investors in GEO-Young Corporation*
• Capital Square Partners (CSP) in connection with its:
  • Acquisition of ESM Holdings Limited, the holding company of the Aegis group, from AGC Holdings Limited, a wholly owned portfolio company of Essar Global Limited*
  • Proposed acquisition of a controlling interest in StarTek and its sale of Aegis, one of its subsidiaries, to StarTek as consideration for such acquisition*
• Citi Venture Capital International (now The Rohatyn Group) in its investment and subsequent exit from Wuttisak Clinic in Thailand*
• CX Partners and CSP on the:
  • Acquisition of Minacs from Aditya Birla for an enterprise value of approximately US$260 million*
  • Sale of Minacs for approximately US$420 million to Concentrix Global Holdings, a subsidiary of Synnex Corporation, a Fortune 500 company
• Everstone Capital Partners in the purchase of C3/CustomerContactChannels Holdings by its joint venture vehicle between Everstone Capital Partners III L.P. and Sunrise BPO Pte. Ltd., Everise Holdings (US), LLC*
• Global Infrastructure Partners on its acquisition of Tower Vision India Private Limited — a business that establishes and maintains passive telecom infrastructure in India
• Goldman Sachs PIA in its:
  • Initial and subsequent investments (over US$500 million) in ReNew Power Ventures Pvt. Ltd (formerly ReNew Power Wind Power Private Ltd), one of the largest investments in the renewable energy sector in India*
  • Investment into a medical device company in India*
• I Squared Capital on the investment into an affiliate firm of oil and gas company Atlantic Gulf & Pacific Company (AG&P), a developer of gas distribution networks in India*
• Intermediate Capital Group on its acquisition of AMP Energy India Private Limited, a renewable energy company
• NewQuest Capital Partners on its secondary acquisition of certain portfolio companies from Draper Fisher Jurvetson*
• Norwest Venture Partners on the:
  • US$425 million investment , as part of a consortium of private equity investors, in Asian Genco, an infrastructure company with power generation assets in India*
  • Acquisition of an equity stake in the National Stock Exchange of India Limited through the FII route*
• OMERS Infrastructure in its US$220 million acquisition of a stake in Azure Power from IFC and IFC GIF Investment Company*
• Ontario Teachers’ Pension Plan Board on the:
  • Acquisition of a significant majority stake in Sahyadri Hospitals Group, an India-based private hospital chain in the state of Maharashtra, from the Everstone Group
  • Investment into Spandana, an Indian microfinance company*
• Qatar Investment Authority, through wholly owned subsidiary Qatar Holdings LLC, in its acquisition of a minority stake in CITIC Capital Holdings Limited*
• The Xander Group in a joint venture with APG Strategic Real Estate Pool N.V. (APG) to Invest US$450 million in retail developments in India and the related US$300 million acquisition by the joint venture company Virtuous Retail South Asia Pte. Ltd. of an initial portfolio of three retail assets from a Xander-sponsored fund*
• TPG Capital on the sale of a stake in Trinugraha Capital, a Luxembourg-based private equity firm, to Bravo Investments Limited in connection with the acquisition of PT BFI Finance, an Indonesia-based multifinance company

M&A

• A consortium of Japanese buyers, including Osaka Gas Co., Ltd. and Sumitomo Corporation, in connection with their US$370 million strategic investment in AG&P LNG Marketing Pte. Ltd., I Squared Capital’s platform for investing in companies that develop city gas distribution networks in India
• Adani Group in its acquisition of Holcim’s stake in Ambuja Cements and ACC, two India-based cement companies; named Best of South Asia Deal Award by Finance Asia Awards 2022 and winner of the IBLJ’s 2022 Deals of the Year: M&A Deal of the Year
• A Thai wind renewable power producer with respect to its sale process*
• E2E Serwiz Solutions, a Tata Group company, in its acquisition of the call center business of TRX*
• General Electric on the sale of its commercial lending and leasing business to a consortium backed by AION Capital Partners*
• Hyundai Motor India Limited, India’s first smart mobility solutions provider — on the potential acquisition of identified assets related to General Motors India, Talegaon Plant, Maharashtra
• JERA Co., Inc. on the sale of its approximately 14% stake in the Paiton Coal Thermal IPP Project in Indonesia to PT Medco Daya Energi Sentosa, a wholly-owned subsidiary of PT Medco Daya Abadi Lestari*
• Komli Media in its acquisition of ADMAX Network, a digital media business with operations in multiple countries in Southeast Asia*
• Manila Electric Company (Meralco) and its subsidiary, Solar Philippines New Energy Corporation, on its strategic partnership with Actis, a leading global investor in sustainable infrastructure, on its 40% stake in the Terra Solar Project. The transaction represents the largest foreign direct investment for a greenfield infrastructure project in the Philippines
• MIND ID on its:
  • Acquisition of an increased shareholding in PT Vale, an Indonesia-based nickel mining and processing company
  • Acquisition of an interest in PT Vale Indonesia, the largest nickel producer in Indonesia, from Vale and Sumitomo*
• Morgan Stanley as financial advisor to the:
  • Independent committee of the board of Harbin Electric in its management buyout*
  • Special committee of Tongjitang Chinese Medicines Company in its acquisition by Hanmax Investment Limited, Fosun Industrial Co., Limited, and Tonsun International Company Limited*
• ORIX Corporation in its capacity as a member of a consortium in the consortium’s leveraged acquisition of a controlling stake in a listed commercial bank in Taiwan, for approximately US$680 million*
• PETRONAS on Saudi Aramco’s US$8 billion investment in the RAPID Refinery and Petrochemical project in Malaysia*
• Potential targets and special purpose acquisition companies (SPACs) on de-SPAC opportunities in Asia*
• PTT and PTTEP on its various strategic M&A transactions in Thailand and across Southeast Asia*
• ST Telemedia Globe Data Centres, one of the world’s fastest-growing data centre providers, headquartered in Singapore, on the joint venture with Globe Telecom and Ayala Corporation to develop, construct, and operate data centre projects in the Philippines
• Tata Coffee in its US$220 million acquisition of Eight O’Clock Coffee in the United States from Gryphon Partners*
• Tata Technologies in its US$100 million tender offer and acquisition of INCAT plc, a UK public company*
• The Special Committee of China Fire & Security Group in a buyout by Bain Capital*
• The Special Committee of China Transinfo Technology Corporation in a take-private transaction*

Venture Capital

• Caisse de dépôt et placement du Québec (CDPQ) as lead investor on the US$105 million Series D funding round of CleverTap, a leading global B2B SaaS platform for customer engagement and retention
• Jungle Ventures Pte Ltd, through its second fund vehicle Jungle Ventures II Investment Holding Pte Ltd, in its Series A investment in Deskera Holdings*
• Merrill Lynch on its investment in Monsoon Multimedia, an India-based company that manufactures, develops and sells video streaming and place-shifting devices*
• Merrill Lynch on its investment in Zoom Entertainment Network, an entertainment company based in India*
• Merrill Lynch on its investment in Bluechip Corporate Investment Centre, an insurance brokerage*
• CLSA on its investment in Orind Global Holdings*
• Norwest Venture Partners in its acquisition of a 10% interest in Thyrocare Technologies Limited from certain of its shareholders*

Capital Markets

• The underwriters in connection with the NASDAQ listing and initial public offering of MakeMyTrip Limited, the largest online travel company in India*
• The underwriters in connection with the US$145.5 million registered follow-on equity offering by MakeMyTrip Limited and certain selling shareholders*
• The underwriters, led by Morgan Stanley and Deutsche Bank, in connection with US$126 million follow on equity offering by MakeMyTrip Limited*
• A large Indian IT company in its proposed high yield bond offering*
• The underwriters in connection with the US$231.9 million initial public offering by Oberoi Realty Limited which comprised a Rule 144A/Regulation S international placement and public offering in India and listing on the Bombay Stock Exchange and the National Stock Exchange of India*
• Deccan Chronicle Holdings Limited in a US$49 million private placement of shares to qualified institutional buyers*

Restructurings

• Aditya Birla in restructuring its cement business by way of a demerger of the cement business from Grasim (under a scheme of arrangement) followed by a merger of the demerged business into UltraTech (under a scheme of amalgamation)*
• Tata Technologies in its corporate restructuring in the United States, Europe, and Asia Pacific regions*

*Matter handled prior to joining Latham