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15 Deals in brief: Quickr, Mitsui Sumitomo, Bol Bachchan, Piramal, Morgan Stanley, Specialty Restaurants, Reliance…

Tri-week pack
Tri-week pack

Juris Corp, I&S Associates, Indus Law, MDP & Partners, along with Amarchand Mangaldas, AZB & Partners, Khaitan & Co, Luthra & Luthra, Trilegal and others kept busy on 15 selected deals.

M&As and capital markets transactions take a marginal lead over litigation, competition and private equity and venture capital deals, in our three-week roundup.

Private equity and venture capital

Indian investment firms Norwest venture Partners, Nokia Growth Partners, and Omidyar network, and international investment firm Warburg Pincus bought 32.66 per cent stake worth Rs 18 crore ($32m) in leading Indian online horizontal classified Quickr

Norwest Venture Partners and Nokia Growth Partners: Amarchand Mangaldas partners Reeba Chacko and Rashmi Pradeep

Omidyar Network: Amarchand Mangaldas partner Vandana Pai Bharucha

Warburg Pincus: AZB & Partners

Quickr: Indus Law partner Gaurav Dani with associates Divya Varghese and Kaustuv Banerjee

 

Massachusetts based investment and microfinance company Accion International invested Rs 25 crore ($4.5m) in Indian finance company Saija Finance.

Accion International: I&S Associates partner Anuradha Iyer

Saija Finance: Juris Corp

 

 

Cayman Islands based military equipment manufacturer NCBG Holdings formed a joint venture with Indian military equipment manufacturer DCX Chol Enterprises, called DCX Cable Assemblies

NCBG Holdings, DCX Chol and DCX Cable Assemblies: Khaitan & Co partners Rajiv Khaitan and Anindita Phukan

 

 

Litigation and Competition

Oman-based structural products manufacturer Al Jazeera obtained a favourable Supreme Court order allowing arbitration of Al Jazeera’s dispute with Indian steel producer Mid India Power and Steel, for alleged breach of contract

Al Jazeera: Khaitan & Co partner Sanjeev Kapoor with senior advocate KV Viswanathan

Mid India Power and Steel: In-house

 

Japanese insurance company Mitsui Sumitomo obtained Competition Commission of India’s (CCI) clearance for acquisition of 26 per cent stake in Indo-US insurance JV Max New York Life Insurance

Mitsui Sumitomo: Amarchand Mangaldas Mumbai partner Nisha Kaur Uberoi

Fidelity obtained CCI clearance for its merger with L&T finance

Fidelity Mutual Fund: Amarchand Mangaldas Mumbai partner Nisha Kaur Uberoi

 

IDBI Bank obtained interim relief from the High Court of Bombay against Shree Ashtvinayak, which is the co-producer of soon-to-be-released Hindi film Bol Bachchan. The order restrains IDBI bank’s debtor Shree Ashtvinayak from creating any further rights in respect of the suit film Bol Bachan, including doing any further acts for the film’s release

IDBI bank: MDP & Partners managing partner Nishit Dhruva with senior counsel Venkatesh Dhond

Shree Ashtvinayak: Nankani & Associates partner Ishwar Nankani with counsel Chetan Kapadia

 

Corporate/M&A

Indian healthcare provider Piramal Healthcare acquired US-based healthcare information-provider Decision Resources Group for Rs 3400 crore ($635m), from private-equity firm Providence Equity Partners

Piramal Healthcare: Amarchand Mangaldas Mumbai managing partner Cyril Shroff

Decision Resources Group: In-house

Providence Equity Partners: Weil, Gotshal & Manges

 

Global financial services firm Morgan Stanley’s private equity firm Morgan Stanley Infrastructure Partners (MSI) acquired a majority stake in Indian wind power producer Continuum Wind Energy from its promoters, for Rs 1,200 crore

MSI: Trilegal partner Saurabh Bhasin with counsel Avirup Nag, senior associates Nishant Beniwal and Ravi Mahto and associate Arjun Sinha and Davis Polk & Wardwell, Hong Kong partner Kirti Kapoor and associate Sam Kelso

Continuum Wind Energy’s promoters: Desai & diwanji partner Amit Khansaheb

 

 

ICICI Bank bought Rs 75 crore ($14.5m) preference shares of Indian oil and gas equipment manufacturer John Energy

ICICI Bank: Khaitan & Co partners Haigreve Khaitan and Shishir Mehta

John Energy: ARA Law partner Rajesh Begur

 

Satish Yeachareddy, a partner in a Karnataka-based iron ore mining firm, bought 47 per cent stake worth Rs 15 crore in mineral ore trader Bhoomi Resources

Satish Yeachareddy: Amarchand Mangaldas Bangalore partner Arjun Lall

Bhoomi Resources: In-house

 

Leading healthcare services provider Apollo Hospitals acquired minority stake in multi-specialty hospital Imperial Hospital & Research Centre

Apollo Hospitals: Luthra & Luthra Mumbai partner Manan Lahoty and senior associate Ravi Dubey

Imperial Hospital & Research centre: In-house

 

British multinational asset management company Schroders’ Singapore based investment management arm will acquire 25 per cent stake in Indian mutual fund company Axis Mutual Fund’s Axis Asset Management and Axis Mutual Fund Trustee

Schroders Investment Management Singapore: Amarchand Mangaldas partners Ashwath Rau and Aysswarya Murthi

Axis Mutual Fund: Bharucha & Partners

 

Capital markets

IT company 3i Infotech restructured its foreign currency convertible bonds by issuing new FCCB worth $125.36m to existing bondholders, and extending maturity of bonds worth $2.4m, to five years. Deutsche bank AG, Hong Kong was the deal manager

3i Infotech: Amarchand Mangaldas Yash Ashar and Gaurav Gupte

Deutsche Bank, Hong Kong: AZB & Partners and Skadden, Arps, Slate, Meagher & Flom

 

 

Indian fine-dining restaurant operator Specialty Restaurants made a public issue of 1.17 crore equity shares at Rs 146 to Rs 155 per share, for 25 per cent of its post issue paid-up capital. The issue was subscribed 2.44 times, in two days. Kotak Mahindra Capital Company was the book running lead manager to the issue

Specialty Restaurants: Amarchand Mangaldas partner Yash Ashar

Kotak Mahindra Capital: Talwar Thakore & Associates, Mumbai and White & Case, Singapore

 

Reliance group’s financial services company Reliance Capital bought Pune-based realtor’s holding company Urban Development’s unlisted, secured non-convertible debentures for Rs 45 crore. Reliance also has an option to buy an additional Rs 5 crore of the instruments, on satisfaction of transaction-document conditions.

Reliance Capital: Amarchand Mangaldas Mumbai partner Ashish Jejurkar

Urban Development: In-house

 

Non-banking finance company JM Financial Products bought Mumbai realtor’s holding company Wadhwagroup Holdings’ unlisted, secured non-convertible debentures for Rs 110 crore

JM Financial Products: Amarchand Mangaldas Mumbai partner Ashish Jejurkar

Wadhwagroup Holdings: In-house

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