Advaya Legal advised French multinational logistics provider FM Logistic on buying a majority stake in Pune-based Spear Logistics, which was advised by Platinum Partners, from existing shareholder Ambit Pragma which was advised by Economic Laws Practice.

Advaya partner Sharanya G Ranga and senior associate Parag Bhide acted for FM

Platinum Mumbai partner Gautam Bhat acted for Spear.

ELP Mumbai partner Darshan Upadhay acted for Ambit.

Small Cap growth and buyout fund Ambit, which had around $150m under management, had invested in Spear in 2009, reported the Economic Times.