General Electric (GE) and Électricité de France (EDF), a French state-owned electric utility company, have signed a binding stock and asset purchase agreement for sale of GE Steam Power's nuclear activities to EDF.

The transaction is expected to close in the second half of 2023 and is subject to customary closing conditions including regulatory approvals.

Cyril Amarchand Mangaldas acted for GE on the India portion of the global transaction.

Cyril Amarchand Mangaldas transaction team was led Akila Agrawal, Partner (Head – M&A); and Navin Kumar, Partner; with support from Vidya Sunderam, Principal Associate; Gurkaran Arora, Senior Associate; Ashlesha Mittal, Associate; and Abhishek Ganguly, Associate.

Real Estate team was led by Mudit Shah, Partner; with support from Praharsh Vyas, Senior Associate; Jainam Shah, Senior Associate Designate; and Hridaykrishna Motwani, Associate.

About the firm

Cyril Amarchand Mangaldas (CAM) is India's leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, and government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With 1000 lawyers and 160 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.