Press Release

Kirkland Represents CarVal Investors on Acquisition of Uttam Galva Metallics Limited and Uttam Value Steel Limited

Kirkland & Ellis advised CarVal Investors, a global alternative investment manager focused on distressed and credit-intensive assets, on its acquisition with Nithia Capital, a global distressed alternative asset manager and advisors, of Uttam Galva Metallics Limited & Uttam Value Steel Limited (together Uttam) through their Singapore-based Joint Venture Holding Company, Wardha Steel Holdings Pte Ltd. Uttam is an integrated mid size flat steel producer with annual capacity to produce c. 0.7 million tons of crude steel. The transaction, which formed part of the corporate insolvency resolution process of the two companies, closed on 05th January, 2021. 

Read the transaction press release  

The Kirkland team was led by special situations partner Ranesh Ramanathan, corporate partner Daniel Dusek, and restructuring partner Wei Yang Lim.