Corporate M&A
Corporate M&A
Amarchand Mangaldas Mumbai corporate partners Ashwath Rau and Aysswarya Murthi acted for the Macquarie Group in the sale of its 50 per cent holding in Religare Macquarie Wealth Management to joint venture partner Religare Enterprises, which was advised by Vaish Associates corporate and banking partner Sandhya Iyer.
The JV exit was signed on 29 August and closed on 26 November 2013 [VCCircle]. Religare is a long-loyal client of Vaish, while Macquarie has used a number of Indian firms in the past, though Amarchand had set up the Religare JV for the Australian banking giant between 2007 and 2008.
Corporate M&A
Luthra & Luthra advised Indian private equity and real estate firm Everstone Capital in its joint venture with international fast food giant Burger King.
Corporate M&A
Chennai law firm Vichar Partners advised Chennai-based auto parts manufacturer Susira Industries in its sale to the Japanese Usui Kokusai Sangyo Kaisha, which was advised by Bangalore law firm Crestlaw Partners.
Vichar partner Chitra Narayan with associate Raj Jabakh acted for Susira, according to an email from Vichar, which will now operate as Usui Susira – a 100 per cent subsidiary of Usui Japan.
Crestlaw partners Ravitej Rao and Sundar Raman acted for Usui.
Corporate M&A
HSB Partners advised US firm Bayada in buying a 26 per cent stake in Chennai’s India Home Health Care (IHHC), which was advised by Chennai law firm VNS Legal.
HSB Partners partner TK Bhaskar, principal associate Varun Sriram and associates Aishwarya Krishnamurthy and Sahana Chandrika acted for Bayada which expects to earn $1bn (Rs 6,300 crore) in revenue next year, reported the Economic Times.
VNS Legal founder VN Shiva Shankar and senior associate Rakesh Cherukuri acted for IHHC which operates in Chennai and Bangalore.
Corporate M&A
PXV Law Partners and French best friend law firm DS Avocats advised French defence electronics group NSE Industries in a joint venture with Bangalore-based Hical Technologies, which was advised by J Sagar Associates (JSA).
PXV Delhi partner GT Thomas Phillippe and DS Advocats Paris partner Olivier Monange acted for NSE Industries, which received the Foreign Investment Promotion Board’s (FIPB) approval for this Rs 1 million ($17,000) foreign direct investment in May of this year.
JSA Bangalore partner Murali Anandasivan and senior associate Mary Julie John acted for Hical.
Corporate M&A
Obhan & Associates acted for publisher Penguin Random House in its purchase of Ananda Publishers’ stake in Penguin Books India.