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Indus, Vishnu Jerome, Veritas, Samvad, Themis cash in on PayU’s $130m buy of Citrus payment gateway [UPDATE-1]

"PayU Global, the digital payments provider owned by South Africa’s Naspers Group, will buy rival Citrus Pay for $130 million in an all-cash deal. PayU India will have more than 30 million customers post the acquisition of Citrus Pay. The company forecast it will process an estimated 150 million transactions, worth $4.2 billion, in 2016. The deal, once concluded, is expected to provide an attractive exit to Citrus Pay’s investors—Ascent Capital, Beenos and Sequoia Capital. PayU confirmed that the early investors will exit but declined to disclose details,” reported Mint.

The PayU Group, including PayU Global BV and MIH India (Mauritius) Ltd was advised by IndusLaw partner Srinivas Katta, principal associate Winnie Shekar and senior associate Ashi Bhat, assisted by partner Avimukt Dar on competition law issues and partner Avik Biswas on employment laws.

Citrus Payment Solutions was mainly advised by P&C Legal partner Vishnu Jerome and partner Shameek Ray.

Citrus' and the promoters' co-counsel was Veritas Legal managing partner Abhijit Joshi.

Samvad Partners partners Neela Badami and Siddharth Raja, with associate Neeraj Vyas, acted for Ascent Capital, according to a press release from the firm.

Themis Associates represented Sequoia.

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Like +4 Object -4 Boring 20 Sep 16, 21:59
Whatever..clearly cost-conscious law firm hiring
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Like +3 Object -0 Alias 21 Sep 16, 20:31
True. And quality conscious too. No point going to the bigger firms where they'll have glorified PAs (partners) with no real value addition to the deal and almost no specific subject matter expertise.
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Like +6 Object -0 Good show 20 Sep 16, 23:56  interesting
I think this is awesome. Abhijeet vishnu and shameek-all azb alumni. Good DNA. They will do well. This is also shows a move towards smaller firms doing well. They are the real jewels that foreign firms should pick up.
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Like +0 Object -0 Being curious 21 Sep 16, 11:42
Since when did Avimukth Dar start doing competition law? Best of luck if you have chosen to take up a new practice area.
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Like +0 Object -0 kianganz 21 Sep 16, 11:48
I believe at most firms where there is no specialised full-time competition partner, one or several of the corporate partners usually handle competition law advice. For less complex merger control stuff, I've been told it's not hugely difficult or time consuming for corporate partners to do, but your mileage may vary...
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Like +0 Object -0 Bol 21 Sep 16, 13:48
Looks like the next gen show
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