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Covington Advises Indian Energy on Recommended Takeover by Infrastructure India

9/23/2011

LONDON, 23 September, 2011 — Covington & Burling LLP advised its long-standing client Indian Energy Limited, an independent power producer operating wind farms in India, on a recommended all-share takeover by Infrastructure India plc. The takeover was implemented by way of a scheme of arrangement approved by the Guernsey courts and valued Indian Energy at approximately £7.9 million.

The transaction was the culmination of an extensive process that began in December 2010 in order to identify a buyer for the company or find additional funding. Infrastructure India plc (IIP) is an AIM-listed closed-ended investment company holding energy and transportation assets and projects in India. The Board of Indian Energy concluded that the company would benefit from being part of a larger group with investments in, among other things, hydro-electric power and toll roads.

The London-based Covington corporate team was led by partner Simon Amies, who was assisted by associates Brett Hopcroft and Alexandra Smith.

Rupert Strachwitz, CEO of Indian Energy said: “Simon Amies and his team at Covington performed a critical role securing the future for Indian Energy as part of IIP’s group. We have faced many challenges through this process and Covington has helped navigate us through these with their professionalism and expertise.”

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