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Capital International Invests in Indian Non-Bank Financial Corporation
Practices
In advance of the an initial public offering, Paul, Weiss client Capital International, a U.S. private equity fund, invested 3.3 billion rupees (approximately US$75 million) through a share placement in L&T Finance Holdings (L&T).
L&T, the holding company for the financial services business of Indian engineering conglomerate Larsen & Toubro, operates through four units that manage the mutual fund, asset financing, infrastructure financing and working capital funding businesses. Capital International's private equity arm has invested in other Indian companies, including MindTree, which it exited at a profit in 2009, Multi-Screen Media, Manipal Universal Learning and others.
Paul, Weiss acted as international counsel on the transaction, which occurred on July 7. The IPO is scheduled to take place in the second half of July.
The Paul, Weiss team included corporate partner John E. Lange and counsel Hans-Günther Herrmann, and tax partner Jeffrey B. Samuels.