Corporate M&A
Corporate M&A
J Sagar Associates advised Bay Capital Investment Managers and the promoters of Sterling Holiday Resorts India on selling Sterling for Rs 870 crore to the Prem Watsa-backed Thomas Cook India, which was advised by AZB & Partners.
JSA Mumbai partners Sandeep Mehta and Rajesh Pal and senior associate Malav Shah acted for Bay Capital and Sterling’s promoters. AZB partner Ashwin Ramanathan, senior associate Bhavi Sanghvi and associate Rinki Ganguli acted for Thomas Cook.
This is Thomas Cook India's second purchase after Ikya Human Solutions in February 2013 and marks its foray into the hospitality sector, reported the TOI.
Corporate M&A
Amarchand Mangaldas maintained its top spot in intelligence provider mergermarket’s M&A league rankings this quarter.
Corporate M&A
J Sagar Associates (JSA) advised Wall Street bank Goldman Sachs in the sale of its 73 per cent stake in City View Bangalore Properties to a joint venture floated by Blackstone and realty player Embassy Group. Blackstone and Embassy were advised by Amarchand Mangaldas and Simpson Thacher & Bartlett.
JSA Bangalore partner Vivek K Chandy and senior associate Siddharth K Vedula acted for Goldman Sachs.Amarchand Bangalore partner Reeba Chacko and senior associate Kota Chandan acted for Blackstone and Embassy.
Goldmans exited the JV through the deal after several failed attempts since 2012, reported the ET. The remaining stake in it is held by Westcourt and Century Real Estate Holdings.
Corporate M&A
Desai & Diwanji partner Siddharth Mody acted for Aster DM Healthcare, which invested Rs 41 crore ($6.8m) in Sri Sainatha MultiSpeciality Hospital, which owns and manages the Prime brand of hospitals in Hyderabad.
Chennai-based VNS Legal partner Shiva Shankar acted for Sri Sainath.
The Desai & Diwanji team also included senior associate Ashraf Lala, and associates Rumma Panchmatia and Ankesh Jain.
Corporate M&A
J Sagar Associates (JSA) acted for Swiss lock maker Kaba Holding on increasing its investment in its Indian joint venture with Dorset to 74 per cent.
Luthra & Luthra partner Bobby Chandhoke advised the Indian shareholders in the JV, Dorset, while JSA partners Upendra Nath Sharma & Pallavi Puri with associates Shantanu Jindel and Pranav Gadi acted for Kaba.
The additional acquisition of 25 per cent by Kaba was structured as a preferential alotment and also included three additional business acquisitions by the Swiss company via a slump sale, as reported by VCCircle.
Corporate M&A
Khaitan & Co Delhi has advised cinema giant and long-standing client Inox on its Rs 182 crore complete acquisition of Satyam Cineplexes, which drafted in Luthra & Luthra.
Corporate M&A
Khaitan & Co and Mori Hamada & Matsumoto advised Tokyo-based SBS Holdings in buying a 66 per cent stake in Transpole Logistics, which was advised by Trilegal.
Khaitan Delhi partner Rajat Mukherjee, associate partner Harsh Kumar, executive director Daksha Baxi and competition partner Manas Kumar Chaudhuri, together with Mori Hamada of counsel Yohei Koyama acted for SBS. The acquisition is costing SBS Rs 446 crore ($73.5m), according to Dealcurry.
Trilegal Mumbai partner Amit Tambe with senior associate Anjali Menon and associate Kevin Peter acted for Transpole and the existing investors – Everstone and Fidelity.