Khaitan & Co advised the British ITE group’s Cyprus-based subsidiary Airgate in its Rs 122 crore (£14m) buy of a 28.3 per cent stake in event management company Asian Business Exhibition and Conferences (ABEC), which was advised by AZB & Partners.

Khaitan & Co Delhi corporate partner Bharat Anand and direct tax executive director Daksha Baxi acted for Airgate, which bought the stake from Qatar’s investment bank Qinvest.

AZB & Partners Mumbai partner Shameek Chaudhuri acted for ABEC which runs 19 exhibitions across 11 vertical markets including construction, architecture, design, education, lifestyle, real estate, and oil & gas.