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Khaitan, Davis Gilbert, SA Partners sell Network18 Webchutney shares to Dentsu

Only about The News
Only about The News

Khaitan & Co and Davis & Gilbert advised Japanese media giant Dentsu and its Indian subsidiary in picking up 80 per cent stake in Indian digital agency Webchutney. Webchutney was advised by SA Partners.

Khaitan & Co Mumbai corporate partner Rabindra Jhunjhunwala assisted by direct tax executive director Daksha Baxi, banking partner Devidas Banerji, litigation partner Chakrapani Misra and competition law counsel Avaantika Kakkar and Davis & Gilbert partners Brad Schwartzberg and Joseph A Dimiceli acted for Dentsu.

SA Partners partner Abhishek Mishra acted for Webchutney.

Network18 sold its 70.06 per cent in Webchutney to Dentsu, according to Business Standard. Network18 was advised in house. The sale was part of Network18’s move to exit non-core business, according to the Hindustan Times.

Webchutney which offers web design, promotion and marketing services, has generated a return of over 300% to majority shareholder Capital18, the venture capital arm of Network18, reported Mint.

 

Pic courtesy: Randomwire

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