Corporate M&A
Corporate M&A
IndusLaw advised the founders of Redbus and its early investors Helion, Inventus and Seed Fund, in selling out the online bus-ticketing service for $100m (Rs 597 crore) to the Ibibo Group, which is a joint venture of South African Media giant Naspers and Chinese internet company Tencent.
Amarchand Mumbai partners Vandana Shroff and Ajay Joseph acted for the Ibibo Group, which owns online travel aggregators Goibibo and TravelBoutiqueOnline.
IndusLaw Bangalore partner Suneeth Katarki with associates Basava Rao, Rashi Saraf, and Sherill Pal acted for the Bangalore-based Pilani Softlabs’ founders Phanindra Sama and Charan Padmaraju and the other investors in the buy-out of the seven-year old company.
In 2012 RedBus earned Rs 350 crore selling tickets over Rs 600 crore on more than 10,000 bus routes, according to Mint.
Corporate M&A
Amarchand Mangaldas advised State Bank of India (SBI), SBI Trustee and SBI AMC in buying Japan’s second-largest brokerage group Daiwa Security Group’s Daiwa Mutual Fund. Daiwa was advised by AZB & Partners. SBI will buy the Japanese fund for more than Rs 1.3 crore ($220,000), reports Mint.
Amarchand Mangaldas Mumbai corporate partners Ashwath Rau and Aysswarya Murthi acted for the buyers, which will acquire Daiwa’s sponsorship, trusteeship and management.AZB & Partners Mumbai partner Alka Nalavadi and associate Rushabh Maniar acted for Daiwa Asset Management Company’s Indian and Japanese arms and Daiwa Trustee Company.
Daiwai Mutual Fund is selling out to SBI because it wants to cut costs and jobs outside Japan, and because India poses regulatory uncertainties, waning retail investor interest in equity markets, wafer-thin margins and a highly competitive environment, reported the Times of India.
Corporate M&A
Amarchand Delhi, Jones Day Cleveland and Sullivan Cromwell London acted on Gurgaon’s Apollo Tyres $2.5bn takeover of Ohio-based Cooper.
Corporate M&A
Desai Diwanji, Freshfields, Linklaters, TTA sold German machining company to India auto maker
Corporate M&A
Khaitan & Co and Davis & Gilbert advised Japanese media giant Dentsu and its Indian subsidiary in picking up 80 per cent stake in Indian digital agency Webchutney. Webchutney was advised by SA Partners.
Corporate M&A
Trilegal advised British multinational bank Standard Chartered in buying out US investment bank Morgan Stanley’s Indian private wealth management unit. Morgan Stanley was advised by Amarchand Mangaldas.
Corporate M&A
Senior counsel Harish Salve got stuck into novel transactional law with ELP, Gagrats, Amarchand and DLA.
Corporate M&A
PDS & Associates and DLA Piper advised Indian conglomerate PCM Group in its €36m (Rs 255 crore) acquisition of German international railway equipment conglomerate Rail One whose shareholders were advised by Hogan Lovells.
PDS & Associates Mumbai partner Sajid Mohamed, with DLA Piper Germany partner Benjamin Parameswaran and counsel Isaschar Nicolaysen and a raft of other DLA partners acted for the Siliguri-based Indian private company in acquiring the 118-year old German giant.
Hogan Lovells Berlin-based partner Jörg Meissner acted for Rail One shareholders. The €150m company with plants in Germany, Romania, Saudi Arabia, Spain and South Korea was acquired for €36m reported the Economic Times.
Linklaters partner Dr Eva Reudelhuber acted for the banks for the sellers.
Corporate M&A
AZB & Partners did the greatest number of deals (13) in the first quarter of this year, according to the mergermarket M&A deal rankings.
Corporate M&A
Fox Mandal advised US-based GAVIS Pharmaceuticals in its Rs 73.75 crore ($13.6m) brownfield investment in Bangalore-based pharma company Wintac, which was advised by J Sagar Associates (JSA).
Corporate M&A
J Sagar Associates (JSA) and DLA Piper advised multinational certification services firm Bureau Veritas (BV), which will buy Indian and middle-eastern industrial-testing firm Sievert.
Sievert was advised by AZB & Partners Bangalore partner Srinath Dasari, senior associate Nanditha Gopal, and associate Veena Ganesh.
JSA Mumbai partner Sandeep Mehta with associates Aarti Iyer and Adil Ladha, and DLA Piper Middle East regional managing partner Abdul Aziz Al-Yaqout, legal director Diwakar Agarwal and associate Zara Merali acted for BV which will likely complete the acquisition in May 2013, according to its press release.
Sievert reported revenue of $33m in 2012, according to BV, and is engaged in the testing, inspection and certification using non-destructive technique businesses in India and the Middle East.
Corporate M&A
Breaking: Herbert Smith Freehills (HSF) and DSK Legal advised old-client Strides Arcolab in the $1.6bn+ sale of its injectables subsidiary Agila Specialties to Nasdaq-listed generic drugs-maker Mylan Inc.
Corporate M&A
AZB & Partners advised India-focused infrastructure fund Macquarie SBI in its Rs 206 crore ($40m) buy of 74 per cent equity in the GMR group’s road project GMR Jadcherla Expressways (GJEL). GMR was advised by Link Legal.
AZB & Partners Mumbai co-founding partner Bahram Vakil, with senior associate Qais Jamal, acted for Macquarie SBI, which expanded its road portfolio. Macquarie SBI had two years ago invested in GMR infrastructure’s airport subsidiary, as reported in Mint at the time.
Link Legal Delhi corporate partner Anand Srivastava and senior associate Milind Jha acted for the GMR group, which is operating the Farukhnagar-Jadcherla highway in Andhra Pradesh under a concession agreement signed with the National Highway Authority of India, according to a GMR press release.
Corporate M&A
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.