Deal Closed | Edgeconnex, Inc. | Joint Venture with Adani Enterprises

The details of the deal are as follows: 

Announcement Date: 23-Feb-2021 

Name of Client: EdgeConneX, Inc. 

Investor Details EdgeConneX Inc. | USA  

EdgeConneX is a leading technology-driven global data centre provider with 50 facilities in over 30 markets and has expertise in developing and operating data centers around the world. 

Deal Description Adani Enterprises Limited ("AEL") and EdgeConneX Europe B.V. (an affiliate of EdgeConneX, Inc )("ECX") have executed a joint venture agreement ("JVA") to set up a partnership for setting up, operating and managing Data Center business in India through DC Development Chennai Private Limited which shall be the joint venture entity ("JV"). The JV will focus on building a network of hyper-scale data centres in India, starting with Chennai, Navi Mumbai, Noida, Vizag and Hyderabad markets with the aim to set up 1GW of data centre capacity over the next decade. 

Team Members: The core transaction team consisted of Rajat Mukherjee (Partner), Ashraya Rao (Partner), Yashashree Mahajan (Senior Associate) and Sanjana Mathur (Associate) with assistance from the following: 

Real Estate aspects: Sudheer Madamaiah (Partner) 

Project Finance aspects: Gahan Singh (Partner) and Jhinook Roy (Principal Associate) and captive power usage terms: Shivanshu Thaplyal (partner) and Abhijit Mukherjee (Principal Associate) 

Due diligence: Saranya Mishra (Associate) and Yamini Upadhyay (Associate) 

Role of Firm: We were involved as co-counsel with Allen & Overy in: (i) undertaking the due diligence on the JV and the assets to be transferred to the JV; (ii) drafting, reviewing, negotiating and finalizing the JVA and other transaction documents; (iii) legal and regulatory advisory for structuring the Client's investment in the JV and shall provide requisite assistance for completion of the condition precedents identified under the JVA and closing the transactions contemplated under the JVA 

Other legal advisors if any with names of Lead Lawyers

ECX was also represented Allen & Overy LLP, Singapore. 

AEL was represented by Clifford Chance, London and Cyril Amarchand Mangaldas