•  •  Dark Mode

Your Interests & Preferences

I am a...

law firm lawyer
in-house company lawyer
litigation lawyer
law student
aspiring student

Website Look & Feel

 •  •  Dark Mode
Blog Layout

Save preferences

Majmudar lateral, Desai & Diwanji close Shaw-Rolta tech JV exit

Exclusive: Majmudar & Co and Desai & Diwanji have advised on the 50 per cent stake sale of Rolta India’s shares in joint venture company Shaw Rolta Limited to partner Stone & Webster for an aggregate $35.5m in consideration.

Majmudar’s newly inducted partner Rukshad Davar from Bharucha & Partners led for public-listed Rolta India while Desai Diwanji partner Vishwang Desai represented the Shaw Group whose subsidiary is Stone & Webster.

Information technology and software company Rolta India, said Davar, has been a longstanding client of his. The company had entered into the joint venture with the Shaw Group in 2004 after making an initial investment of Rs 60 lakhs, according to newspaper reports.

The sale of shares has been valued at $27.5m and $8m in addition for certain defined services.

Rolta India is headquartered in Mumbai and employs about 4,500 professionals to support countrywide operations and international subsidiaries across the world.

No comments yet: share your views