Wadia Ghandy advised car trading website CarTrade owned by MXC Solutions on its $120m (Rs 790 crore) acquisition of CarWale, another car trading website owned by Automotive Exchange, from its founder Mohit Singh and its existing shareholder Axel Springer. CarWale was advised by Nishith Desai Associates. Axel Springer was advised by Khaitan.
Wadia Ghandy partners Radhika Bhatt and Gautam Ganjawala acted for CarTrade.
Nishith Desai acted for CarWale and its founder Mohit Dubey.
Khaitan partners Niren Patel, Rabindra Jhunjhunwala, Kumar Saurabh Singh, Anand Mehta, Bijal Ajinkya and Adheesh Nargolkar, principal associates Moin Ladha and Shailendra bhandare, senior associates Aravind Venugopal, Ashraya Rao, Ahana Sinha and associates Adyasha Das, Siddharth Sawhney, Parvati Parkkot, Yashashree Mahajan, Vijayaraghavan, Ankit Namdeo and Alisha Ganjawala acted for Axel.
This is reported to be the second biggest consolidation in the automobile market in India by The Economic Times.Axel Springer, one of the majority stakeholders will exit CarWale after the completion of the deal and the merged entity shall have about 2,000 employees with some 9,000 car dealers and 2.25 lakh used cars listed on the platform said their press release.
threads most popular
thread most upvoted
comment newest
first oldest
first
Relative success of the law firms in reaching out to popular startups for funding and acquisition related measures-it benefits/encourages the 1.start ups, 2. Helps ease the negative perception about the corporate legal market. Good to see law firms playing an important role in this whole 'startup boom' hullabaloo
threads most popular
thread most upvoted
comment newest
first oldest
first