Read on for the hottest M&As, fundraisings and financings of the fortnight from India’s biggest, smallest and medium-sized law firms.
Corporate/M&A
Cognizant mega-M&A in Colorado
Indian IT major Cognizant has entered into an agreement to buy the Colorado-based TriZetto Corporation for $2.7bn. TriZetto makes healthcare IT software and services [Reuters]
Cognizant: Nishith Desai Associates as Indian legal and tax counsel and Latham & Watkins as US counsel, with Cognizant Asia Pacific general counsel Anand Bhushan. However, there is officially a gag order on all law firms and lawyers involved on disclosing partner names involved.
TriZetto: Kirkland & Ellis
Alstom €730m Triton sale
Alstom sold its steam auxillary components business to Triton, a leading European investment firm for 730m Euros
Alstom India: Amarchand Mangaldas partners Akila Agrawal and Shweta Shroff Chopra, principal associate Sourav Kanti De Biswas, senior associate Mukul Sharma, and associate Aman Sethi and Freshfields
Triton: Economic Laws Practice managing partner Rohan shah, partners Darshan Upadhyay and Rohit Jain, associate managers Amruta Kelkar and Vidushi Maheshwari and senior associate Bhavin Gada, Linklaters partner Sushil Jacobs and Talwar Thakore & Associates
Renewables $20m FDI
Renewable energy company Guayama PR Holdings proposed 49 per cent FDI in WPA Clean Energy and its promoter Atria Brindawan Power for Rs 1.2bn ($20m)
WPA and Atria: Kochhar & Co senior partner Harry Chawla, partner Chandrashekhar Tampi and senior associate Vinu Peter
Investor: Amarchand Mangaldas partners Santosh Jankiram and Ravindra Bandhakavi, principal associate Vaibhav Kothari and associates Sudarshana Ghosh and Jyoti Rani
First approved 49%-FDI in asset reconstruction company
Asset Care and Reconstruction Enterprise sold 49 per cent stake to Singapore-based SSG Capital Management for an undisclosed amount [PTI] This is the first transaction to get RBI approval for 49 per cent FDI in an asset reconstruction company
ACRE: Business Law Chambers partner Gaurav Shanker
SSG Capital: Vaish Associates partner Vinay Vaish
Evalueserve buys German data company
Global research and analytics company Evalueserve acquired Beyond Data GmbH
Evalueserve: In house team led by general counsel Iqbal Tahir and counsels Kartikay Sharma and Rohan Jain, with German law firm Menold Bezler partner Andreas Wolfe
Beyond Data: Dr Luders & Partners partner Meyer Kessel
Capital markets
DIC delisting
DIC Asia Pacific holding 71.75 per cent of DIC India, proposed to acquire the remaining 28.25% of the fully paid-up equity share capital of DIC India from its public shareholders at an indicative price not exceeding Rs 260. ICICI Securities was the manager to the delisting
DIC Asia Pacific and ICICI Securities: Desai & Diwanji partner Srishti Ojha and associates Ankesh Jain and Ishita Kashyap
Sale of $66.3m IndusInd shares via block trade
GA Global Investments sold $66.3m worth of shares of IndusInd Bank by way of a block trade
GA Global Investments: Khaitan & Co executive director Sudhir Bassi and partner Arindam Ghosh
Lit
ZTE invokes $921,000 guarantee
Chinese telecoms company ZTE Corporation is invoking a $921,487 guarantee in the Delhi high court against HCL Infosystems, to recover alleged unpaid dues by purchases made by its subsidiary Digilife Distribution and Marketing Services.
ZTE: Seth Dua partners Salman Waris and Vasanth Rajsekaran with associates Arjun Uppal and Sukrit Seth
Commercial
Mind The GAP licence
US-designer clothing and accessories brand GAP licensed its brand and products in favour of Arvind Lifestyle Brands
Arvind: IndusLaw partner Suneeth Katarki, senior associate Winnie Shekhar and associate Piyush Bhawalpuria
GAP: US in-house counsel
Vakratunda film release
Bohra Bros Films, Saba Communications and Sikhya Entertainment will be releasing their film Vakratunda Mahakaya in theatres on Diwali
Producers: TMT Law Practice partner Kaushik Moitra advised Bohra Bros, Saba and Sikhya on all contracts, agreements and legalities related to the film
Private equity
Times Internet & others do Rs 210 SSN Logistics investment
Multiples Private Equity Fund I Limited, Multiples Private equity Fund, Nexus Ventures III and Times Internet invested Rs 210 crore in SSN Logistics
SSN Logistics: Samvad Partners partner Nivedita Nivargi, senior associate Ashwini Vittalachar and associate Junaira Rahman
Multiples Private Equity Fund I: Nishith Desai Associates partners Vaibhav Parekh and Shinoj Koshy and associates Neha Sinha, Harshita Srivastava and Shreyas Bhushan
Nexus Ventures III: J Sagar Associates partner Sidharrth Shankar and associates Aparajita Srivastava, Priyam Singh and Shantanu Jindel.
Times Internet: Sand Hill Counsel partner Anand Kumar and associates Khozema Rangwala, Nina Menon and Nisha Mallik
Bangalore online grocery store BigBasket gets Rs 200 crore
Online grocer BigBasket received Rs 200 crore funding from investors led by venture capital firms Helion and Zodius Fund II and Avendus [ET]
BigBasket: IndusLaw Bangalore partner Srinivas Katta and associate Deepti Agheda
Investors: Amarchand Mangaldas Bangalore partner Arjun Lall
Helion Zobtree seed investment
Helion Investment III made a seed investment of Rs 3 crore in Zobtree Ventures
Zobtree Ventures: Samvad Partners partner Harish Narasappa, senior associate Ashwini Vittalachar and associate Junaira Rahman
Helion Ventures: MNK Law Offices partner Gyanendra Kumar and associates Kunal Arora and Nishant Arora
Banking & Finance
Axis in Rs 275 crore Future Retail loan
Axis Bank loaned Rs 275 crore ($45m) to Legitimate Assets Operators (LAOPL) for purchase and lease-back of retail store equipment to Future Retail
Axis Bank: Khaitan & Co associate partner Kumar Saurabh Singh
LAOPL: In house
Bank of Baroda lends AU$8.8mhh
Bank of Baroda, Sydney provided an AU$8,800,000 facility to Joyce Foam
Bank of Baroda: Majmudar & Partners partner Prashanth Sabeshan
PNB €5m loan to Binanis
Punjab National Bank (International), London extended EUR5,000,000 to 3B Fibreglass SRPL, Belgium, a member of the 3B Binani group of companies
PNB: Majmudar & Partners partner Prashanth Sabeshan and TTL LLP
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