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AZB, Khaitan double-team Reliance as Link Legal + SAM assist Den Networks on yet another $311m Jio payday [UPDATE-2]

Reliance Industries is buying 66% of Den Networks via a primary investment via preferential issue of Rs 2,045 crore and a secondary purchase of Rs 245 crore from the company’s promoters, according to reports.

Link Legal India Law Services acted for Den Networks and its promoters, led by partner Anuj Trivedi and supported by partner Milind Jha, and senior associates Kashish Arora and Sanya Haider.

AZB & Partners acted for Reliance Industries and Jio as transaction counsel.

Khaitan & Co acted for Reliance Industries and Jio on due diligence aspects. The core transaction team consisted of partner Haigreve Khaitan, executive director Sudhir Bassi, partner Arindam Ghosh, partner Rahul Dutt, senior associate Arpita Anand and associate Tanish Gupta with assistance from the following on due diligence of Den and subsidiaries. Also assisting were litigation partners Sanjeev Kapoor and Gaurav Juneja, and partner Abhishek Sinha, as well as litigation principal associates Kaushalya Shetty, Bhaskar Banerji, Rony Oommen John, and indirect tax principal associate Ayush Mehrotra. They were assisted by senior associates Tarang Shashishekhar, Avantika Govil, Shrey Agarwal and Tushaar Talwar, and associates Akshay Sharma, Anubhuti Sinha, Rhea Jha, Shivani Jha, Varun Yadav and Bharat Gupta Phalguni Bhalla, and associate Yamini Kumar.

Update 19 October 2018: Shardul Amarchand Mangaldas also acted for Den Networks alongside Link Legal, led by partners Raghubir Menon and Prashant Gupta, with principal associate Gaurav Dayal.

Update 22 October 2018: Full Khaitan deal team now included.

Shardul Amarchand Mangaldas Mumbai office also acted for Goldman Sachs, an existing investor in Den Networks, led by partner Mithun V Thanks and principal associate Neety Thakkar.

Cyril Amarchand Mangaldas and Trilegal handled the contemporaneous Reliance acquisition of Hathway Cable & Datacom for $399m, we had reported earlier today.

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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