•  •  Dark Mode

Your Interests & Preferences

I am a...

law firm lawyer
in-house company lawyer
litigation lawyer
law student
aspiring student

Website Look & Feel

 •  •  Dark Mode
Blog Layout

Save preferences

14 deals in brief, 14 firms: Pfizer $86m restructure; Rico-Continental sell-out; $7m Satyam-Dion; Kobe Steel; Tata Bev-Everest; PE; banking; more…

The rest of the week's deals in one package
The rest of the week's deals in one package

Fourteen law firms kept busy in a sideways economy with 14 deals in corporate, private equity and banking and finance. Find out what the industry has been up to.


Pharmaceutical giant Pfizer sold its animal health business to Pfizer Animal Pharma for Rs 440 crore ($86m). (Closed 20 February)
AZB & Partners partner Srinath Dasari with associate Nanditha Gopal were the sole Indian advisors in this internal restructuring transaction, representing Pfizer.

Indian auto-components company Rico Auto Industries sold its entire 50 per cent stake in Continental Rico Hydraulic Brakes India, its joint venture with German tire and auto parts maker Continental AG to Continental Automotive Holding Netherlands BV of the Continental Group. (Closed 28 February)
J Sagar Associates (JSA) partner Venkatesh Raman Prasad with senior associate Akshay Nagpal and associate Tresa CJ advised Rico Auto Industries.
Vaish Associates partner Bomi Daruwala advised Continental AG and affiliated companies

Software exporter Satyam Computer Services acquired 15.8 per cent preferential equity for Rs 35 crore ($7m) in Dion Global Solutions, which is the capital markets’ software service provider owned by the founders of Ranbaxy and Fortis. (Closed 30 March)
AZB partner Abhijit Joshi with associate Nilanjana Singh advised Satyam.
Vaish partner Bomi Daruwala with associates Amitjivan Joshi and Sidhharth Dang advised Dion.

Japanese manufacturing conglomerate Kobe Steel bought a Rs 31 crore ($6m) 3.25 per cent stake in leading Indian SAW (submerged arc welded) pipe manufacturer Man Industries. (Closed 14 March)
Khaitan & Co partners Vaishali Sharma and Zakir Merchant advised on the share purchase agreement for Kobe Steel.

Tata Global Beverages acquired 4.17 per cent shares of Mount Everest Mineral Water for Rs 28 crore ($5.5m) (Closed 28 March)
AZB partner Abhijit Joshi with associate Nandish Vyas advised Tata Global Beverages and Mount Everest Mineral Water
Dudhat Pereira & Associates partners Radhika Pereira and Zian Pardiwala advised Foresight Holdings and Vinod Sethi

Administrators of MF Global Overseas sold their majority stake in the Indian broking joint venture MF Global Sify Securities India to Singaporean financial services provider Phillip Capital.
Majmudar & Partners partners Akil Hirani and Rukshad Davar advised MF Global Overseas
DSK Legal Partners Anand Desai and Nirav Shah advised MF Global Sify Securities India

FID Investments Mauritius, of the Fidelity group, sold its entire stake in Fidelity’s asset management company and trustee company to L&T Finance. (Closed 27 March)
Amarchand & Mangaldas partner Ashwath Rau advised FID Investments Mauritius
K Law advised L&T Finance

Private Equity

Social venture fund Aavishkar invested Rs 18 crore ($3.4m) in Vana Vidyut Private Limited.
SNG & Partners partner Amit Aggarwal, with senior associate Rahul Sud and associate Deepti Thakkar advised Aavishkar.

Private equity firm Valiant Mauritius Partners bought 22.75 per cent equity for Rs 170 crore ($33m) in housing finance company Shriram Housing Finance which also sold 77.26 per cent equity for Rs 165.44 crore to its parent company Chennai based retail finance company Shriram City Union Finance. (Closed 30 March 2012)
AZB & Partners partner Shuva Mandal with associate Divya Mundra advised Valiant.
MDP & Partners partners Dipali Sheth and Dharmesh Kotadia advised Shriram Housing Finance.

Aditya Birla Private Equity Fund I invested Rs 100 crore in Trimax IT Infrastructure & Services Ltd, which works in systems integration and IT services and products and whose existing investors are BanyanTree Growth Capital.
Desai & Diwanji Mumbai-based partner Aslesha A Gowariker and associate partner Siddharth Mody advised Aditya Birla.
Nishith Desai Associates Bangalore-based partner Sangeeta Rana and associate Anil Choudhry advised Trimax.

PTS Financial Services sold 14 per cent equity for Rs 70.8 crore in India’s largest power trading exchange Indian Energy Exchange to private equity firm Multiples Alternate Asset Management.
JSA partner Rohitashwa Prasad with associate Swetha Prashant advised PTS Financial Services

Banking & finance

Yes Bank, through a syndicate of lenders, loaned Rs 273 crore ($53m) to real estate company HDIL Leisures (Closed 15 March)
AZB partner Vineetha MG with associate Debashree Dutta advised Yes Bank

State Bank of Mysore loaned Rs 200 crore to Tata Group’s private basic telecom operator Tata Tele Services in a 6.5 year term loan.
India Law Services partner Tushar Desai advised State Bank of Mysore

Madhya Pradesh State Industrial Development Corporation (MPSIDC) received Rs 450 crore from its creditors in its winding up through a first-of-a-kind scheme of arrangement and compromise to be approved by the ministry of corporate affairs. (Closed 19 March)
Khaitan & Co partner Sharad Vaid MPSIDC

If you would like your deals included in future deals round-ups, please send us an email at with details of the transaction and lead partners.

Photo by lemonhalf

Click to show 2 comments
at your own risk
By reading the comments you agree that they are the (often anonymous) personal views and opinions of readers, which may be biased and unreliable, and for which Legally India therefore has no liability. If you believe a comment is inappropriate, please click 'Report to LI' below the comment and we will review it as soon as practicable.