I Squared Capital’s Investment in AG&P City Gas

Milbank advised Atlantic Gulf & Pacific on the deal.

I Squared Capital’s announced its investment of up to US$300 million in Atlantic Gulf & Pacific (AG&P City Gas). The joint venture partnership is expected to deploy up to US$1.3 billion of capital expenditure to develop the city gas distribution networks in India.

AG&P City Gas, a Singapore-based company operating in India under the brand name AG&P Pratham, is developing twelve city gas distribution networks, or concessions spanning 280,000 square kilometers and nine states. It is anticipated that the equity investment and partnership between AG&P, one of the largest private city gas distribution companies in India, and ISQ will accelerate the development of critical city gas infrastructure in the country, as well as the distribution of clean and affordable natural gas to millions of industrial and commercial customers across India.

The Milbank team was led by Singapore partner Jacqueline Chan (Picture) and Hong Kong partner Paul Pery with Singapore associates Hua Chan, Stephanie Kam, Min Kim and law clerk Yixian Zhao.  


Involved fees earner: Jacqueline Chan – Milbank LLP; Hua Chan – Milbank LLP; Stephanie Kam – Milbank LLP; Paul Pery – Milbank LLP;

Law Firms: Milbank LLP;

Clients: Atlantic, Gulf & Pacific Company (AG&P);

Author: Sonia Carcano