Cleary Gottlieb represented Credit Suisse Securities (India), Deutsche Equities India, DSP Merrill Lynch, Goldman Sachs (India) Securities, JM Financial Institutional Securities, Kotak Securities, and SBICap Securities as brokers in connection with the recent sale of shares in Coal India by the Government of India, which stands as one of the largest ever equity deals in India.
Under the terms of the transaction, the Seller sold a total of 631,636,440 shares for an aggregate price of approximately $3.6 billion on the National Stock Exchange of India and the Bombay Stock Exchange, in one of the largest ever equity deals in India. The transaction closed on February 3, 2015.
Coal India is one of the largest coal producers in the world, producing approximately 81% of India’s overall coal production, with over 400 mines across 8 states in India.