Latham & Watkins and Cyril Amarchand Mangaldas (CAM) advised travel logistics firm IBS Software on the $172m sale of its minority stake to global private equity firm Blackstone which was advised by Allen & Gledhill and Shardul Amarchand Mangaldas (SAM).

Latham partners Rajiv Gupta and Sin Chei Liang and associate Lyndon Tan and CAM Bangalore corporate partners Reeba Chacko and Nagavalli G acted for IBS Software.

AZB & Partners partner Nilanjana Singh acted for the selling shareholder General Atlantic.

Allen Gledhill Singapore partner Christian Chin and associate Julian Ho and Shardul Amarchand Delhi partner Raghubir Menon, principal associate Anirban Bhattacharya and associate Deepa Rekha acted for Blackstone.

Blackstone, which is the world’s largest alternate asset management firm, bought out General Atlantic and some other shareholders for the stake acquired through this deal, reported Mint.