JSA acted as the sole and lead Indian counsel to Peabody (acting through its newly incorporated special purpose vehicles, i.e., Peabody MNG Pty Ltd and Peabody SMC Pty Ltd), in securing an unconditional approval from the CCI in relation to the acquisition of a portion of the assets and business of Anglo and its subsidiaries’ steel-making coal portfolio in Australia (“Proposed Transaction”).
The deal value for the Proposed Transaction was approx. USD 3.775 billion (approx. INR 31,389 crores).
The Proposed Transaction was approved by the CCI on 17 March 2025 in 17 days. It was one of the first deals notified to the CCI solely on account of breaching the deal value threshold which has recently been notified by the Ministry of Corporate Affairs.
The team from JSA comprised Nisha Kaur Uberoi, Partner & Chair – Competition Practice, with Partner – Pranav Satyam, Principal Associates – Rahat Dhawan and Anand Sree; Senior Associate – Kamal Sharma; and Associates – Naman Katyal and Meghaa G.
The Indian project finance aspects were led by Lead Infrastructure Partner – Vishnu Sudarsan with Partner – Kartikeya G.S., and Associate – Siddhant Thakkar.
Jones Day acted as international legal counsel for Peabody on this deal.
Kartikeya specializes in projects, regulatory and policy related work in the infrastructure sector.