Indian firms Khaitan & Co and Bharucha & Partners have advised on The Blackstone Group’s acquisition of a Rs3bn (£40m) stake in logistics company Gateway Rail Freight.
Mumbai partner Rabindra Jhunjhunwala and senior associate Ashwin Matthew led the Khaitan & Co team acting for Blackstone, reports LegallyIndia.com.
For Bharucha & Partners, co-founding partner Alka Bharucha and senior associate Dipankar Bandyopadhyay advised Gateway Rail Freight.
The deal marks the first Blackstone investment in the Indian rail and freight space. The private equity house will take a stake of up to 49.9 per cent in the company.
Gateway Rail Freight, a subsidiary of Gateway Distriparks, has become the largest private container train and inland container depot (ICD) operator in India following the deregulation of the sector by Indian Railways in 2006.
Bharucha has had a relationship with Gateway Distriparks since she advised on its IPO in 2005 while at Amarchand Mangaldas & Suresh A Shroff & Co. She left Amarchand to set up Bharucha & Partners in 2008.