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Khaitan, ILP, Ashurst, others advise Ola on $300m buy-into electric cars initiative from Hyundai, Kia, with JSA on DD

At least seven law firms advised on the giant deal.

“With the shared mobility concept gaining traction in India and other markets, South Korean automobile manufacturer Hyundai Motor Group on Tuesday announced an investment of $300 million in India’s biggest cab aggregator Ola Cabs, as part of a strategic partnership between the two companies. With this deal, both Hyundai and Kia Motor Company will work with the Bangaluru based start-up for developing customized electric vehicles and charging stations appropriate for ride hailing applications,” reported Mint.

Khaitan & Co advised Bhavish Aggarwal and Ankit Bhati, founders of ANI Technologies which operates Ola cabs, led by a team of partner Sharad Moudgal, principal associate Rishabh Bharadwaj, associate Kamlesh Rao and associate Kamna Kumar.

Indian Law Partners (ILP) acted for Hyundai and Kia led by a team including partners Gopika Pant and Vineet Gupta.

Ashurst also acted for acted for Hyundai and Kia as international legal counsel.

A raft of existing investors were also advised by law firms.

Rajaram Legal acted for Matrix Partners led by a team including managing partner Archana Rajaram and partner Prasad Subramanyan.

US law firm Morrison & Foerster acted for Softbank.

US law firm Davis Polk & Wardwell represented Tencent.

Goodwin Procter acted for Ola investor DST and Falcon Edge.

Update 25 March 2019: J Sagar Associates (JSA) acted for Ola i conducting a vendor diligence of Ola and its subsidiaries (Ola Fleet Technologies, Zipcash Card Services and Pisces eServices). The team was led by joint managing partner Vivek K Chandy, partner Archana Tewary, principal associate Ritika Vaswani, senior associates K Z Kuriyan and Pooranimaa Hariharan and associates Sanjna Vijh, Vandana Venkatesh, Karun Pahwa and Sanjana Rao.

Deal value: $300m

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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