Udwadia Udeshi & Argus strikes big in Rs 1600+ cr Magma-GE Capital loans buy

Thursday, 8 November 2012 By Legally India Corporate M&A

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Exclusive: Udwadia Udeshi & Argus Partners (UUA) have advised Magma Fincorp, which today announced it would acquire home loam portfolios worth more than Rs 1,600 crore from GE Capital India, which was advised by AZB & Partners.

UUA managing partner Krishnava Dutt advised Magma with senior associate Adity Chaudhury and associate Aastha. The firm was formed after Argus Partners, which was co-founded by Dutt in Kolkata in 2009, merged with Mumbai solicitors firm Udwadia & Udeshi early this year.

AZB Mumbai partner Shameek Chaudhuri advised GE Capital.

Magma will buy 100 per cent of the equity in GE Money Housing Finance, which has Rs 660 crores of housing finance loan assets and a net worth of Rs 193 crores, as at 31 March 2012.

It will also acquire the entire home equity loans portfolio of GE Money Financial Services, which had loan assets of Rs 940 crores as at 31 May 2012, reported Mint.

Photo by phototouring

Udwadia Udeshi and Argus Partners AZB & Partners

Comments

Shaitan 8 Nov 2012, 13:26

+5 -0

But for its office in South India, UU&A would be a Tier 1 firm.

AG 9 Nov 2012, 01:54

+2 -0

I've heard they have some other massive deals in the pipeline. Krishnava is a superstar, unfortunately he's the only one - tough to be tier one on the back of one superstar.

hmmm 9 Nov 2012, 05:40

+3 -0

Adity is the next superstar in the making

worth a mention 9 Nov 2012, 13:19

+1 -0

talking of superstars, [...] from the Argus Kolkata office were instrumental in the realisation of this deal!!!! congratulations!

Worth a mention too 10 Nov 2012, 11:48

And forgot to mention about [...] from the UUA Mumbai Office, [...] from the Argus Kolkata office and [...] from the UUA Chennai office, who all were a part of the team doing this huge deal. Congratulations to them as well !!

unsolicited credit giver 12 Nov 2012, 04:25

and should also mention Manmohan Singh, Sonia gandhi, P. Chidambaram, D. Subba Rao, who were instrumental in providing a platform and regulations to enable such deals.
and the paralegals, telephone operator and peons in UUA who supported the counsel

XYZ 11 Nov 2012, 15:18

@Kian, so what I cant understand is that when the firm does not want to name certain lawyers as being relevant to a deal, their names are being displayed as part of comments. This is not correct. Obviously all the lawyers named in the comments did not contribute significantly enough to deserve mention hence they were not mentioned. Would request you to refrain from putting up such comments as they are entirely pointless.

AG 12 Nov 2012, 07:42

+0 -0

Are Argus Kolkata and UUArgus different? Comments seem to suggest the same.

Commenting is closed for this article.