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Obhan advises Penguin on Rs 55 cr Indian JV buy-out ahead of Random House mega-merger with Freshfields, Slaughters

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Obhan & Associates has advised publisher Penguin Random House in its purchase of Ananda Publishers’ stake in Penguin Books India.

Ananda was advised by Kolkata-based lawyer Avijit Deb.

Obhan partner Ashima Obhan, who had joined the firm in 2011 from AZB & Partners, and associate Anirudha Mitra acted for Penguin.

The Foreign Investment Promotion Board (FIPB) cleared the deal in early September, clearing the way to conclude the India leg of Penguin’s global merger with Germany’s Bertelsmann-owned Random House, said Obhan.

Ananda had a 45 per cent stake in the joint venture, reported The Hindu Businessline.

On the global merger Freshfields Bruckhaus Deringer advised Penguin-owner Pearson, with Obhan assisting on the India leg of the deal including domestic competition approvals. Morgan Lewis & Bockius acted for Pearson in the US, reported The Lawyer.

UK firm Slaughter and May and US firm Davis Polk & Wardwell are acting for Bertelsmann.

Photo by Martin Burns

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