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Khaitan bags $4bn mandate for iGate in CapGem takeover [UPDATE: Luthra acting for Capgemini ]

Khaitan & Co is acting for Nasdaq-listed iGate Corp, which is being acquired by French IT consultancy Cap Gemini for $4bn.

Khaitan Mumbai partner Rabindra Jhunjhunwala confirmed that Khaitan had been instructed by iGate but declined to comment further.

UPDATE: Luthra senior partner Mohit Saraf acted for Capgemini, as reported by Bar and Bench.

The deal will create a global technology giant worth $12.5bn with 190,000 employees, reported Mint, with around 75 per cent’s of iGate’s 33,000 employees based in India, according to Reuters.

iGate had bought Patni Computer Systems in 2011 for $1.22bn, on which AZB & Partners and J Sagar Associates (JSA) had bagged the roles for the target, and with Khaitan & Co advising iGate alongisde nine other law firms.

iGate’s founders, Ashok Trivedi and Sunil Wadhwani, are together set to pocket more than $1bn from the sale.

We were unable to confirm which other law firms are involved in this deal at the time of going to press. If you know, please do share in the comments and we’ll confirm.

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