Baker McKenzie acted as lead counsel to China National Bluestar (Group) Co Ltd. ("Bluestar") and REC Solar Holdings AS ("REC Solar") on the sale by Bluestar of 100% of the equity interests in REC to Reliance New Energy Solar Ltd. ("RNES"), a subsidiary of Reliance Industries Ltd. ("Reliance"). RNES' acquisition of REC Solar - a pioneering Norwegian solar energy company with manufacturing and operational hubs all over the world - will help Reliance with a ready global platform and the opportunity to expand and grow in key green energy markets globally, including in the US, Europe, Australia and elsewhere in Asia.

Principals Geraldine Ong and Boo Bee Chun - both based in Singapore - led a multijurisdictional, multidisciplinary team on this transaction, which included team members from the M&A, Competition, Real Estate, Banking and Finance, and the Employment practices from Singapore, Hong Kong and the US. Team members include Kah Chin Chu, Sze Shing Tan, Sharon Tan, Ng Zhao Yang, Ting Xiaohui, Esther Pang, Chng Anzhen, Jordan Tong and Tan Enlai from the Singapore member firm Baker McKenzie Wong & Leow; Tom Jenkins from the Hong Kong office, John Fedele and Dukki Moon from the Washington, D.C. office also provided advice.

REC, which has 1,300 employees globally, will become an integral part of Reliance's mission to drive green energy transition globally. Reliance will also be investing in REC's planned expansions in manufacturing capacities in Singapore, France and the US. In India, Reliance plans to use REC's technology in the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, starting with a 4GW per annum capacity and eventually growing to 10GW per annum.

LW44 acted as the exclusive financial advisor, with Fangda Partners and Baker McKenzie acting as legal advisors to REC Solar and Bluestar for this transaction.

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