31 March 2010 - Gide Loyrette Nouel acts as international legal counsel to the Government of India on USD 2.2 billion share sale of National Mineral Development Corporation Limited:

Gide Loyrette Nouel (GLN) has acted as international legal counsel to the Government of India in the further public offering of National Mineral Development Corporation Limited (NMDC). 
 
The Government of India divested approximately 8.38% of its 98.38% equity stake in NMDC via a traditional bookbuilding process raising approximately USD 2.2 billion.  

NMDC was the largest iron ore producer by volume in India during the last three fiscal years and has access to significant reserves of high grade iron ore. It operates one of the largest diamond mines in Asia and owns a wind power facility in the State of Karnataka. NMDC has also engaged in the exploration and production of various mineral products primarily in India.  

Underwriters to the deal were UBS, Citigroup, Morgan Stanley, RBS, Edelweiss Capital Limited and Kotak Investment.  

The GLN team was led by partner Chris Mead in London with assistance from senior associates Sylvain Dhennin (London), Prashanth Kumar Kanukuntla (Dubai), Melinda Arsouze and Ali Ezzatyar (Paris), and Steffi Tam (Hong Kong).  

Mumbai law firm Crawford Bayley, led by partner Sanjay Asher, acted as the domestic lead legal advisor.