Adani and MetTube copper tube business partnership under investigation by Khaitan and CAM
Adani Group and MetTube Form Strategic Partnership for Domestic Copper Tube Manufacturing
In a significant move, the Adani Group has entered into a strategic partnership with MetTube, an international leader in copper tube manufacturing. This equal joint venture aims to boost domestic copper tube production for applications in the HVAC, renewable energy, and smart construction sectors [1][2][3].
Under the terms of the partnership, Adani Enterprises has divested 50% of its stake in Kutch Copper Tubes Limited to MetTube Mauritius Pvt Limited. Simultaneously, Adani Group has acquired a 50% stake in MetTube Copper India Private Limited, MetTube's Indian subsidiary near Ahmedabad, Gujarat [1]. The collaboration is expected to support India's green infrastructure goals and reduce dependence on imports by combining Adani's infrastructure with MetTube's global manufacturing expertise.
On the legal front, Khaitan & Co acted as the advisors to MetTube Copper India Private Limited and MetTube Mauritius Pvt Limited in this transaction. The firm's core team, consisting of Ashraya Rao, Saswat Subasit, Ritika Vardhan, Sheldon Dsouza, Hansaja Pandya, and Sanjana Dwivedi, handled various aspects of the deal, including drafting, reviewing, and negotiating transaction documents [4].
Vijay Pratap Singh Chauhan, Partner, and his team, including Ananya Mahant, Senior Associate, and Rasmani Raghuwanshi, Associate, advised on the competition law related aspects of the transaction. Kumar and Aiswarja Mohanty, Partner, along with Sumi Trivedi, Principal Associate, advised on certain regulatory aspects of the transaction [4]. Amit Wadhwani handled the real estate related aspects of the deal. Arushi Bindal, Senior Associate, and Rohil Kenue, Associate, also advised on the transaction and documentation [4].
While the role of Cyril Amarchand Mangaldas in this partnership has not been publicly disclosed, it is known that Ramanuj Kumar, Partner (Co-Head - Projects (Energy and Energy Transition)), and Ravi Shah, Partner led the transaction team from Cyril Amarchand Mangaldas [5]. If further details about their involvement are needed, it may be necessary to access more specialized legal databases.
The partnership between Adani Group and MetTube is a significant step towards strengthening India's domestic manufacturing sector and supporting the country's green infrastructure goals.
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The partnership between Adani Group and MetTube will leverage their combined expertise in the finance, energy, and business sectors to boost domestic copper tube production for various industries, including renewable energy and smart construction. By combining Adani's infrastructure with MetTube's global manufacturing expertise, the collaboration is expected to support India's green infrastructure goals and reduce dependence on imports.
