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AZB-Advaita help Uber go on post-IPO diet, selling food biz to Samvad’s Zomato with Trilegal

Uber will get a 10% stake in Zomato in a deal that values Uber Eats at $300-350 million, a person familiar with the matter said on condition of anonymity. In January, Zomato raised $150 million in fresh capital at a valuation of $3 billion from existing investor Ant Financial.

Mint

AZB & Partners advised Uber, led by partners Ashwath Rau and Jasmin Karkhanis.

Advaita Legal also acted for Uber, specifically on tax aspects of the deal, led by partner Sudipta Bhattacharjee.

Samvad Partners advised long-time client Zomato on the deal, with partner Aparna Ravi; partner Ashwini Vittalachar; and partner Arjun Krishnan assisted with competition law aspects. Also advising on competition aspects were associate M V Abhinaya; associate Sharanya Kundu; and senior associate Kavita Jitani.

Update 16:37: Trilegal advised certain existing shareholders and Zomato with respect to strategic aspects of the deal, through a team led by partners Rohan Ghosh Roy and Nisha Kaur Uberoi.

Samvad had earlier this month also helped Zomato shore up its warchest with a $50m J Series round from Ant Financial, valuing it at $3bn.

Two Big Four accountancy-consultants were also involved in the deal, with EY advising Zomato and KPMG acting for Uber.

Deal value: TBC

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