Law firms
Corporate M&A
AZB & Partners recent lateral partner Nisha Kaur Uberoi has on 8 August obtained phase 1 merger clearance from the Competition Commission of India (CCI) for Ultratech Cement’s Rs 16,189 crore ($2.4bn) acquisition of the cement assets of the Jaypee Group.
Corporate M&A
CX Partners (a PE firm focused on the Indian mid-market) and Capital Square Partners sold for $420m its stake in Minacs to Concentrix Global Holdings Inc., a subsidiary of Synnex Corporation, as reported by the Economic Times as one of the largest in the business process outsourcing (BPO) sector, and Concentrix’ second largest deal.
Law firms
Cyril Amarchand Mangaldas (CAM) general corporate partner designate Prerak Ved will join AZB & Partners as a counsel in Mumbai, we have confirmed from authoritative sources.
Law firms
Cyril Amarchand Mangaldas (CAM) Mumbai competition partner Nisha Kaur Uberoi, who resigned on 22 May 2016, has joined AZB & Partners today after a notice period of over 9 weeks, confirmed AZB Mumbai managing partner Zia Mody when contacted.
Law firms
K Law has hired as Delhi partners Abhishek Shinde and Atish Kumar Vatts, the two co-founding partners of Citius Law Partners, who did not join HSA Advocates in Bangalore with fellow co-founder Sharath Chandrasekhar in June.
Trilegal opens office in Gurugram, moves 20 lawyers there (but not for lifestyle reasons) [UPDATE-1]
Law firms
Trilegal has opened an office in Gurgaon, and is relocating corporate practice partners Ravindra Bandhakavi, Harsh Pais, Yogesh Singh and Vaibhav Kothari there from its Delhi office.
Private equity / VC
"P C Jeweller will raise up to Rs 257 crore through issue of preferential shares to US-based investment firm Fidelity for business expansion,” reported the Economic Times.
Corporate M&A
"Shanghai Fosun Pharmaceutical (Group) Co. Ltd, the Hong Kong-listed company controlled by billionaire Guo Guangchang, will acquire India’s Gland Pharma Ltd for $1.3 billion (Rs 8,700 crore), the company announced on Thursday. According to the agreement, Fosun will acquire an approximate 86% stake in Gland, including the 36% stake held by existing private equity firm KKR & Co,” reported Mint.
Corporate M&A
“State Bank of India (SBI) has kick-started the formal process of merging associate banks and Bharatiya Mahila Bank, which would create a banking entity with total assets worth about Rs 29 lakh crore. The bank has appointed merchant bankers, valuation consultants and law firms to complete the process,” reported The Economic Times.
Law firms
K Law Delhi partner Gautham Srinivas will join Khaitan & Co in Delhi as a capital markets partner.
Corporate M&A
"Flipkart Ltd has acquired Jabong through its unit Myntra in a cut-price deal that values the online fashion store at $70 million, moving to preserve its position as India’s No.1 e-commerce marketplace in the face of an onslaught by Amazon India,” reported Mint.
Law firms
Shardul Amarchand Mangaldas (SAM) technology, media and telecommunications (TMT) partner Asim Abbas, who had joined the firm a year ago, will join Cyril Amarchand Mangaldas (CAM).
Law firms
Cyril Amarchand Mangaldas has continued rebuilding its competition team, ahead of the impending departure of competition head Nisha Kaur Uberoi, with the hire of Khaitan & Co principal associate Anshuman Sakle as a partner.
Corporate M&A
"With non performing assets-saddled banks trying to raise money from sale of non-core assets, global credit information company TransUnion has raised its stake in its Indian subsidiary Cibil to 77.1% by buying out ICICI Bank and Bank of Baroda’s holding in it.” reported Mint.