Tatva Legal advised India’s largest real estate developer DLF in selling its stake in Star Alubuild to Japan’s Lixil Corp, which was advised by Talwar Thakore & Associates (TTA).
Tatva Delhi partner Simran Singh, manager Neha Chhabra and senior associate Natasha Tuli acted for DLF which, according to Mint, has been exiting businesses not considered essential to real estate development after being weighed down by Rs 20,369 crore of debt.
TTA Mumbai partner Feroz Dubash, managing associate Ritu Taimni and associates Nidhi Rani, Mrinali Kaul and Rachita Nadig acted for Lixil, which was purchasing a 70 per cent stake in curtain walls firm Star Alubuild for Rs 79.8 crore ($12m), wrote Mint.
DLF said in a BSE filing that its subsidiaries DLF Home Developers and DLF Projects had divested 60 per cent stake in Star Alubuild, reported the Economic Times, while the remaining 10 per cent share in the Japanese building materials firm’s controlling stake had come from Star Alubuild founder Romi Malhotra.
Comments
The reason we cover deals is because lawyers are genuinely interested in what other firms are doing, so the more we cover, the merrier, generally...
By the way, anyone know by any chance who has been advising Flipkart?
The reason we cover deals is because lawyers are genuinely interested in what other firms are doing, so the more we cover, the merrier, generally...
By the way, anyone know by any chance who has been advising Flipkart?[/quote]
Kian why do you publish only some comments of mine but not others? I am not writing anything offensive. I just posted 3 comments in quick succession and you only printed 2 :(
So it is ok if someone with a declared bias writes some feel-good statement like 'has a glowing track record' but not ok if I say they are 'mediocre'. Its becomne fashionable to praise people to high heavens often just ofr the sake of courtesy / bias / political correctness.
Mediocrity is part of life, a very important part of life and nothing wrong in pointing that out. the person I referred to is actually below mediocre and everyone in his firm will agree so I was being generous.
If my statement is so wrong or trolly im sure people will object. I hope you think again and publish it.
Also if you see the kind of comments that are published regularly about firms and partners on LI you will see that calling someone 'mediocre' is the least of the so called 'defamatory' statements you ar e afraid of.
I've had the same problem with writing comments (on another article where the Law Firmite was rebutting the GC's article) - one stating that the legal knowledge of the author of the article was 'outdated' and another in relation to why people consider a firm like Wadia to be family run. Both of them were not published. I really don't understand the random censorship and how that could possibly have been defamatory.
And.....these "non-piddly deals" comprise less than 10% in volume of all deals in the market! And even by value thresholds, the new normal for "mid-sized deals" in India is more like $10-20 mn. Just because every now and then, there is a Apollo-Cooper, Baring-Hexaware or Alliance-KKR, that doesn't make it a boom enough market for you to call a $24 mn deal piddly......unless of course, you are saying you are regularly up to your neck working on mega Indian deals this year.....in which case..... what can I say, you are a star :-)
And.....these "non-piddly deals" comprise less than 10% in volume of all deals in the market! And even by value thresholds, the new normal for "mid-sized deals" in India is more like $10-20 mn. Just because every now and then, there is a Apollo-Cooper, Baring-Hexaware or Alliance-KKR, that doesn't make it a boom enough market for you to call a $24 mn deal piddly......unless of course, you are saying you are regularly up to your neck working on mega Indian deals this year.....in which case..... what can I say, you are a star :-)[/quote]
The economy is bad but not so bad that a $24 million deal (about 125 crore rupees) is considered good. Even a $100 mn deal is not very large in my view and you dont have to be a star to know that. Considering LI reports deals about once a week or once in 10 days I am sure Kian can find out more noteworthy deals. Besides I can understand if a small deal had an important issue at stake but purchase of a simple 70% stake?
Trust me, you DO have to be a major star......or very brave......to be saying in the current economic scenario that "even a $100 mn deal isn't very large" :-)
But, I do agree with you on one thing - that if a smaller deal that had some important issue at stake, it should get more coverage. But in a bit of a deal-scarce situation, news sites have to report what deals do close, right (especially, when large deals like Flipkart close, no one knows who acted for them? ;-))
Trust me, you DO have to be a major star......or very brave......to be saying in the current economic scenario that "even a $100 mn deal isn't very large" :-)
But, I do agree with you on one thing - that if a smaller deal that had some important issue at stake, it should get more coverage. But in a bit of a deal-scarce situation, news sites have to report what deals do close, right (especially, when large deals like Flipkart close, no one knows who acted for them? ;-))[/quote]
My firm's M and A partners do a 100 million $ deal once in two months. Thats six a year from one firm. There are 3-4 other firms also who do between 3 to 12 such deals a year. I guess in total about 24-30 deals, and since many firms will be against each other I say about 15-20 deals a year in the market. Thats only M and A. Project Finance partners do deals bigger than 100 mn $ every 3-4 weeks.
And as for Project Finance......no comparison there.....we are talking only M&A deals here. PF deal value is always gonna be MUCH higher........everyone knows that. For a PF deal, $100 mn would be very small.
Bottomline is that the ecxonomy is doing badly relatively to previous years but there are enough big deals in the market to justify calling a 24 mn dollar deal piddly.
Trust me, you DO have to be a major star......or very brave......to be saying in the current economic scenario that "even a $100 mn deal isn't very large" :-)
But, I do agree with you on one thing - that if a smaller deal that had some important issue at stake, it should get more coverage. But in a bit of a deal-scarce situation, news sites have to report what deals do close, right (especially, when large deals like Flipkart close, no one knows who acted for them? ;-))[/quote]
My firm's M and A partners do a 100 million $ deal once in two months. Thats six a year from one firm. There are 3-4 other firms also who do between 3 to 12 such deals a year. I guess in total about 24-30 deals, and since many firms will be against each other I say about 15-20 deals a year in the market. Thats only M and A. Project Finance partners do deals bigger than 100 mn $ every 3-4 weeks.[/quote]
Wow. Does Chidambaram and Raghuram Rajan know about you and your firm? You must let them know. Your firm is a hidden gem in this bleak economy
We are in awe of you. You work at a firm doing so many big deals and still find time to comment so much!
We don't need to speculate on how many deals are on in the market by what your partners are or are not doing though. There are league tables that do that for us. Look at mergermarket or bloomberg (as reported on LI and Bar & Bench) league tables. Gives you a pretty good idea of what is going on in the Indian market.
We don't need to speculate on how many deals are on in the market by what your partners are or are not doing though. There are league tables that do that for us. Look at mergermarket or bloomberg (as reported on LI and Bar & Bench) league tables. Gives you a pretty good idea of what is going on in the Indian market.[/quote]
Find out how many deals firms do from league tables...duh? U ever worked in a law firm before???
Trust me, you DO have to be a major star......or very brave......to be saying in the current economic scenario that "even a $100 mn deal isn't very large" :-)
But, I do agree with you on one thing - that if a smaller deal that had some important issue at stake, it should get more coverage. But in a bit of a deal-scarce situation, news sites have to report what deals do close, right (especially, when large deals like Flipkart close, no one knows who acted for them? ;-))[/quote]
My firm's M and A partners do a 100 million $ deal once in two months. Thats six a year from one firm. There are 3-4 other firms also who do between 3 to 12 such deals a year. I guess in total about 24-30 deals, and since many firms will be against each other I say about 15-20 deals a year in the market. Thats only M and A. Project Finance partners do deals bigger than 100 mn $ every 3-4 weeks.[/quote]
Lots of large deals are not disclosed or reported by the firms doing them. Maybe you should take that into account as well?