Corporate / M&A
Corporate M&A
Exclusive: Desai & Diwanji has acted for Eureka Forbes in its 50:50 joint venture (JV) with Khaitan & Co-advised Waterlogic, which will develop water purification products together over five years, investing $10m (Rs 54 crore).
Corporate M&A
Exclusive: Udwadia Udeshi & Argus Partners (UUA) have advised Magma Fincorp, which today announced it would acquire home loan portfolios worth more than Rs 1,600 crore from GE Capital India, which was advised by AZB & Partners.
Corporate M&A
Platinum Partners with Freshfields Bruckhaus Deringer advised UK oil and gas major BG Group on its sale of state-owned Gujarat Gas Company for over Rs 2,400 crore to Gujarat State Petroleum Corporation’s (GSPC) subsidiary GSPC Distribution Networks, involving India’s first long form merger control clearance.
Corporate M&A
Desai & Diwanji advised hospitality group Interglobe hotels, on its multi-million dollar purchase of the issue share capital of steel maker Isha Steel Treatment, which was advised by Wadia Ghandy.
Desai & Dewanji Bombay partners Jai Diwanji and Ruzbeh Mistry, associate partner Sidhharth Mody, senior associate Shakti Singh Champawat and associate Karni Singh acted for the hotel developer, which is a joint venture between conglomerate Interglobe Enterprises and international hotel chain Accor.
Wadia Ghandy Mumbai partner Dhawal Mehta, senior associate Rati Lodha and associate Shruti Manglik acted for Isha Steel Treatment.
Corporate M&A
Khaitan & Co and Baker & McKenzie again advised leading global injectable generic drugs maker Hospira and its Indian subsidiary Hospira Healthcare India (HHI) in its Rs 1100 crore ($200m) acquisition of Chennai-based global pharma major Orchid Chemicals & Pharmaceuticals’ penicillin and penem making facility and research & development business. Orchid was advised by Amarchand Mangaldas and Latham & Watkins.
Corporate M&A
Verus advised India-based leading global wind-power company and longstanding client Suzlon Energy (Suzlon) in the Rs 160 crore ($40m) sale of its 58 MW wind-farm Suzlon Engitech to an undisclosed purchaser, which was advised by Desai & Diwanji.
Corporate M&A
Exclusive: Amarchand Mangaldas, AZB with international firms Jones Day and Penningtons advised Bharti Airtel on its $165m purchase of Qualcomm 4G spectrum licences in India, according to several sources close to the deal.
Corporate M&A
AZB & Partners and international law firm Shearman & Sterling advised a Canadian financial holdings company’s investment subsidiary Fairbridge Capital in its purchase of 76.81 per cent equity for Rs 817 crore ($150m) in British holiday maker Thomas Cook Group’s (TCG) Indian subsidiary Thomas Cook India (TCIL). TCG was advised by Trilegal with international best friend law firm Allen & Overy.
Corporate M&A
J Sagar Associates (JSA) and international law firm DLA Piper advised Dutch pension services provider APG Strategic Real Estate pool Netherlands in its Rs 650 crore ($123m) investment in leading Indian hotel chain Lemon Tree Hotels and its subsidiary Fleur Hotels which were advised by AZB & Partners.
Corporate M&A
Fox Mandal Bangalore instructed by US law firm Wilson Sonsini Goodrich and Rosati (WSGR) advised business and professional networking website LinkedIn on its Rs 632 crore ($118m) acquisition of presentation sharing service Slideshare which was advised by US law firm Fenwick & West LLP.
Corporate M&A
Bharucha & Partners advised Axis Bank that sold 25 per cent of its shares in Axis Asset Management to Amarchand Mangaldas-advised Schroders.
Corporate M&A
J Sagar Associates advised TVS Logistics Services, opposite AZB & Partners’ Mumbai and Delhi offices that respectively advised Kohlberg Kravis Roberts (KKR) on its first round of funding and Goldman Sachs on its second investment into the Indian logistics company that has plans to aggressively expand abroad.
Corporate M&A
AZB & Partners advised Nasdaq-listed information technology services company iGate Corp in its Rs 1,400 crore ($271m) voluntary delisting of its Mumbai-based unit Patni computer systems, which was jointly advised by Wadia Ghandy and international law firm Hogan Lovells.
Corporate M&A
Amarchand Mangaldas and Luthra & Luthra have each racked up over $10bn worth of deals to top the M&A Indian mergermarket league table for the first quarter of 2012, displacing 2011 first quarter (Q1) frontrunner AZB & Partners.
Corporate M&A
Amarchand Mangaldas’ Bangalore office advised Japan’s largest non-life insurer Mitsui Sumitomo in its Rs 2,731 crore ($530m) purchase of 26 per cent in the joint venture (JV) of Indian insurer Max India and US insurer New York Life Insurance, which were respectively advised by AZB & Partners and Paul Weiss, and Platinum Partners and Freshfields Bruckhaus Deringer.