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Amarchand Mangaldas, Dorsey & Whitney Named for Power Grid Sale

Aug. 25 (Bloomberg) -- Amarchand Mangaldas & Suresh A Shroff & Co. and Dorsey & Whitney LLP have been selected as legal advisers for a 20 percent stake sale in Power Grid Corporation of India Ltd., said Prashant Gupta, a partner at Amarchand Mangaldas.

John Chrisman, a partner at Dorsey & Whitney, did not immediately respond to an e-mail seeking comment.

The government and Power Grid will sell a combined 841.8 million shares, according to a statement last month. Power Grid shares have declined 6.5 percent this year, valuing the 20 percent stake at about 86.7 billion rupees ($1.8 billion).

Goldman Sachs Group Inc., JPMorgan Chase & Co., ICICI Securities Ltd. and SBI Capital Markets Ltd. may manage the share sale, three people with knowledge of the deal told Bloomberg News on Aug. 5.

To contact the reporter on this story: Kian Ganz in Mumbai at kganz1@bloomberg.net

To contact the editor responsible for this story: Stephen Foxwell at sfoxwell@bloomberg.net

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