AZB, Indus on ex-Vodafone CEO Arun Sarin's Ola buy

Tuesday, 3 November 2015 By Prachi Shrivastava Corporate M&A

AZB & Partners advised former Vodafone CEO Arun Sarin and his family on their acquisition of a minority stake in ANI Technologies which runs taxi app Ola. Ola was advised by IndusLaw.

AZB Delhi partner Anil Kasturin and senior associate Jaishree Tolani acted for Sarin who, as Mint reported, is joining Ola as an independent director.

Indus declined to comment but it is understood that Noida partner Gaurav Dani led the deal for Ola.

Founded in January 2011 by two IIT Bombay alumni, Ola currently plies over 20,000 vehicles in over 100 Indian cities, is backed by investors such as DST Global, GIC, Falcon Edge Capital, SoftBank Group Corp., Tiger Global Management LLC, Steadview Capital and Accel Partners, acquired rival TaxiForSure this year in a deal worth $200m, and is being investigated for predatory pricing allegations in the Competition Commission of India, even as the Delhi high court imposed a ban on it.

AZB & PartnersOlaIndusLawDelhi high court

Comments

HMM 3 Nov 2015, 10:48
+3 -1
Do you put Khaitan by default in your headlines ? Because the deal does not seem to have Khaitan..
kianganz 3 Nov 2015, 10:50
+2 -12
Lol, yes, obvious error in headline, corrected - Indus of course. :)

Or maybe we're just sub-consciously trolling all readers who hate Khaitan?
OLA 3 Nov 2015, 12:50
+3 -0
We seem to work exclusively with Indus, wonder why??
Investo 3 Nov 2015, 18:36
+3 -0
Dear OLA, you seem to be interested in getting a new firm on board. Please settle your politics internally.
uber 10 Nov 2015, 07:05
+0 -0
Not only OLA, several of these 'Unicorns' work exclusively with IndusLaw. That should make you wonder too!!
Commenting is closed for this article.