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Khaitan, Travers Smith, DLA Piper and Freshfields sell LPO CPA Global to Cinven

Khaitan & Co, alongside Travers Smith, advised legal process outsourcing (LPO) company CPA Global in its acquisition by European buyout firm Cinven which was advised by Freshfields Bruckhaus Deringer.

Khaitan & Co partner Kalpana Unadkat acted for the Indian subsidiaries of CPA Global on the LPO’s sale by DLA Piper advised minority shareholder Intermediate Capital Group (ICG), and other founder shareholders, for an undisclosed sum.

Travers Smith again acted for CPA through partners Chris Hale and Helen Croke, having previously advised the LPO, alongside DLA Piper partner David Raff, in the acquisition of its management by ICG two years ago. DC Advisory partners was the other law firm acting for CPA. Raff alongside DLA Piper partner Charles Cook acted for ICG in the sale.

Freshfields partners David Higgins, Adrian Maguire and Sean Pierce acted for Cinven in this buyout which, according to The Lawyer, includes ICG’s $440 m (Rs 22 bn) minority stake.

Cinven acquires European-based companies that require an equity investment of €100m (Rs 8 bn) or more, according to a statement from Khaitan.

The CPA global group employs 1,500 people, serving clients' broader Intellectual Property (IP) management and legal support services needs in over 100 countries. It is the world’s top intellectual property management and IP software specialist. According to ICG, the deal has valued CPA at £950 m with the sale generating total proceeds of £387 m as well as an additional £43m capital gain.

The deal is expected to close by the end of this quarter, according to a 20 January report by Legally India.

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