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The latest deals involving Indian companies and law firms.

23 May 2014
Private equity / VC

Shopping onlineIndus Law advised old client and online marketplace Snapdeal’s parent Jasper Infotech in its $100m (Rs 590 crore) second round of funding from US-based BlackRock Financial Management, Singapore’s sovereign wealth fund Temasek, Hong Kong-based Myriad Asset Management and Tybourne Capital Management, and Azim Premji’s Premji invest

16 May 2014
Private equity / VC

Desai & Diwanji, DSK Legal and Universal Legal reprised their roles in Aster DM Healthcare's second fundraising round.

Universal Legal Chennai partners Kavitha Vijay and Sameena Chatrapatty acted for DM.

On the repeat investor side, DSK partner Narendra Dingankar and associate Mayank Mehta acted for India Value Fund and Desai & Diwanji partner Siddharth Mody and associates Ashraf Lala, Manav Shah and Ankesh Jain acted for Olympus.

DM Healthcare raised a further $65m from Olympus and IVF, reported the Economic Times.

The same firms had also acted on the initial $100m investment in 2012, as reported by Legally India at the time.

15 May 2014
Corporate M&A

Nishith Desai Associates acted as Indian legal and tax counsel for Cognizant, which bought Atlanta-based digital video solutions company itaas, which was represented by P&A Associates.

Nishith Desai's Munich-based European operations head Ruchi Biyani, with partner Nishchal Joshipura and Singapore-based international tax head Mahesh Kumar, acted for the Indian IT giant, alongside US law firm Venable.

P&A, which used to have a best friend relationship with Jones Day several years ago, acted for itaas led by managing partner Anand Pathak, together with US law firm Morris Manning & Martin.

The deal value was not disclosed but itaas is estimated to have revenues of around $30-50m annually, wrote Mint in a detailed report, and is hoped to help Cognizant increase its US work from US telecoms and media companies.

14 May 2014
Capital Markets

Axon Partners LLP and Milbank Tweed Hadley & McCloy jointly advised the lead book runners and lead managers in Bharti Airtel International (Netherlands) BV issuing $1bn and €750m of notes, with Allen & Overy (A&O) advised Bharti Airtel and the Dutch issue on Dutch and US laws.

Axon co-founding partner Abhimanyu Bhandari with associates Kajal Bhimani and Prashant Kumar advised on Indian law with Milbank Singapore partner Naomi Ishikawa with senior associate Adrian Yeo and associate Leroy Langeveld.

A&O Hong Kong partner Amit Singh with associates Garrick Merlo and Vivian Chow acted for the issuer.

The book runners were Barclays Bank PLC, BNP Paribas, The Hongkong and Shanghai Banking Corporation Limited, Standard Chartered Bank, JP Morgan Securities PLC and Bank of America-Merril Lynch, reported Mint and others.

The same firms had also acted on Bharti's Dutch $1bn dollar bond issue one year ago, followed by a €750m bond in December 2013.

13 May 2014
Private equity / VC

IndusLaw partner Avimukt Dar with associates Aakriti Shakdher and Kriti Tannan acted for AM Marketplaces, which runs "social shopping platform" LimeRoad.com and received $15m in Series B funding from Tiger Global, Lightspeed Venture Partners and Matrix Partners VCCircle.

Luthra & Luthra partner Deepak Joyce acted for Matrix and Lightspeed, while Tiger Global drafted in Gunderson Dettmer New York partner Steven L Baglio and associate Eric Cheung.

09 May 2014
Finance

Khaitan & Co and Clifford Chance Hong Kong advised HSBC's Hong Kong branch on its $30m term loan facility to the State Bank of India's Shanghai branch for general corporate purposes.

Khaitan banking partner Devidas Banerji (who joined the firm from CC in 2010) and Clifford Chance partner Matthew Truman acted for HSBC.

07 May 2014
Deals in brief

Deals in BriefThe markets are picking up it looks like – here’s the round-up of what firms have been getting up to.

17 April 2014
Litigation

AIIMSIn India’s first judgement on medical aid for rare diseases, the Delhi high court today directed the Delhi government to provide monthly medical treatment, free of cost, to a minor child afflicted with a rare disease (gaucher).

14 April 2014
Corporate M&A

Q1 M&A: In terrible shapeAZB, Trilegal and Luthra had the biggest reported deals in the first quarter of the year, which was a bit of a let down compared to the first quarter of 2014 but is looking up.

11 April 2014
Corporate M&A

Vodafone: top up minutesAt least three domestic law firms acted on Vodafone UK’s buyout of Vodafone India shareholders to take full control over its Indian subsidiary for more than $1.6bn.

11 April 2014
Corporate M&A

ToshibaIndian Law Partners (ILP) and Ashurst acted for Japanese Toshiba in its investment in Delhi-based clean water solutions provider company UEM India.

07 April 2014
Corporate M&A

Ranbaxy Sun PharmaSun Pharma bought debt-ridden pharmaceutical giant Ranbaxy for $4bn from Daiichi Sankyo.

03 April 2014
Corporate M&A

Calvin KleinIndus Law advised textile and apparel retailer Arvind Brands, which bought 49 per cent of the Indian licensee of global fashion giant Calvin Klein (CK) for Rs 100 crore. J Sagar Associates (JSA) advised the previous licensee Premium Garments and Wholesale Trading.

03 April 2014
Litigation

Nokia's tax troublesLuthra & Luthra is defending Finnish cellular giant Nokia’s Indian subsidiary Nokia India in its Madras high court writ contesting the Tamil Nadu VAT department’s claim and in the Supreme Court against a Rs 2,250 crore sales tax guarantee.

02 April 2014
Capital Markets

Luthra & Luthra and Perkins Coie acted for the Government of India in the first-of-its-kind central public sector enterprise (CPSE) exchange traded fund (ETF), which offered stakes in 10 public sector undertakings (PSUs) through a mutual fund structure.

01 April 2014
Corporate M&A

TescoAZB & Partners acted for Tata’s subsidiaries Trent and Trent Hypermarket that entered into a joint venture with Anglo-global supermarket retail behemoth Tesco, which drafted in Trilegal.

31 March 2014
Corporate M&A

Leapfrog Investment bought a Rs 174 crore ($29m) stake in IFMR Capital Finance, advised by Desai & Diwanji and Trilegal.

20 March 2014
Corporate M&A

Trilegal and Japanese firm Mori Hamada & Matsumoto (MHM) advised Japanese metal giant Hitachi Metals in buying a majority stake in two Vikas Group entities.

19 March 2014
Capital Markets

KoovsKhaitan & Co advised Indian online fashion shop Koovs on its Rs 224.5 cr listing on the London Stock Exchange’s smaller cousin, with English law firms Osborne Clarke, Foot Anstey and Macfarlanes.

13 March 2014
Deals in brief

The rest of the week's deals in one packageLitigation, corporate, M&A, capital markets and private equity deals in brief from a cross-section of India’s top law firms.

13 March 2014
Corporate M&A

Phones in BombayAZB & Partners Mumbai is advising Loop Telecom, which is being acquired by Bharti Airtel that is handling the legal work in-house.

03 March 2014
Corporate M&A

eBayJ Sagar Associates (JSA) Bangalore has bagged the mandate for global e-auction giant eBay, which took a $133.7m stake in Indian online marketplace Snapdeal, advised by IndusLaw.

28 February 2014
Litigation

Economic Laws Practice (ELP) won for Bharti Airtel, PDS Legal for Ernst & Young (E&Y), Lakshmikumaran & Sridharan (LKS) for Ultratech Concrete, and Global Legal Associates for ITC Welcome Group in the Delhi high court on Tuesday against the Service Tax Department.

27 February 2014
Corporate M&A

Economic Laws Practice advised watches and jewellery retailer Titan in hatching a joint venture with luxury goods maker Montblanc International for single brand retail in India.

19 February 2014
Private equity / VC

J Sagar Asssociates (JSA), Nishith Desai Associates and Trilegal acted on Goldman Sachs’ and Mitsui Global Investment’s Rs 315 crore ($50m) investment in Global Beverages & Foods.

17 February 2014
Corporate M&A

MuraliA law firm started seven months ago by a Kerala advocate and two ex-senior associates from Amarchand Mangaldas and Trilegal, have acted opposite J Sagar Associates (JSA) and DLA Piper to advise on the takeover of a Kerala-based vocational training company by a German services giant.

11 February 2014
Corporate M&A

ydc0jzcmSeven years after advising India’s largest realtor DLF in its $250m buy of Aman resorts, Luthra & Luthra advised DLF in selling Aman back to its owner Adrian Zecha for $358m (Rs 1,600 crore).

04 February 2014
Capital Markets

Oil rigAmarchand Mangaldas Delhi office is acting for exploration giant Cairn India, which is buying back up to 14.98% of its equity share capital for $930m (Rs 5,725 crore) from the open market through stock exchanges.

31 January 2014
Projects

Amarchand Mangaldas maintained status quo as project finance leader for the third year running and reported a greater overall deal revenue since last year, according to data provider dealogic’s year end table for 2013.

13 January 2014
Corporate M&A

The four firms advised on the National Stock Exchange’s acquisition of Computer Age Management Services, which is valued at up to Rs 1,500 crore.

09 January 2014
Private equity / VC

CowsAmarchand Mangaldas advised the world’s largest dairy player Groupe Lactalis in buying Hyderabad-based Tirumala Milk Products for Rs 1,750 crore ($275m), including buying out private equity major Carlyle Group’s stake. Carlyle was advised by JSA.

09 January 2014
Corporate M&A

Facebook likes Little EyeJ Sagar Associates (JSA) won the mandate to represent long-standing client Facebook on its first Indian acquisition, in its buy of Bangalore-based mobile software analytics company Little Eye Labs for around $15m, which was advised by a local CA firm.

07 January 2014
Private equity / VC

Economic Laws Practice (ELP) advised Canaan Partners and Mayfield Fund and S&R Associates advised Bertelsmann India in investing $12m (Rs 75 crore) in residential listings website India Property Online (IPO) which was advised by Fox Mandal.

ELP Mumbai associate partner Vinayak Burman with associate manager Archana Khosla and associate Trishna Sharma acted for existing IPO investors Canaan and Mayfield in the $12m series B Funding as reported by the Business Standard.

S&R partner Rajat Sethi and associates Rachael Israel, Lakshmi Pradeep and Sowjhanya Shankaran acted for Bertelmann which is the strategic investment arm of the German media company Bertelsmann SE & Co. KGaA in India, as reported by Mint.

Fox partner Jeevandham Rajagopalan and associate Anju Menon acted for IPO which is a Consim Info spun-off founded by the maker or Matrimony.com, according to the Hindu.

26 December 2013
Deals in brief

Christmas deals As year-end approaches and law firms send out a flood of press releases for the annual deals league tables, Legally India has wrapped up the most interesting ones in one tidy package.

11 December 2013
Corporate M&A

PizzaVichar Partners advised the world’s third-largest pizza chain Papa John’s in selling a majority stake in its Indian franchisee OM Pizza & Eats to Avan Projects, which was advised by Advani & Co.

09 December 2013
Private equity / VC

BIBA FashionAZB & Partners advised private equity (PE) firm Warburg Pincus as Wadia Ghandy advised PE firm Faering Capital in investing Rs 300 crore ($49m) in ladies ethnic wear maker Biba Apparels which was advised by OP Khaitan & Co.

05 December 2013
Corporate M&A

Vaish Associates advised Japanese drug company Rohto Pharmaceutical in buying 40 per cent stake in Deep Care Health which was advised by Mundkur Law Partners.

Vaish Gurgaon partner Hitender Mehta with principal associate Akshay Saxena and senior associate Pratyush Khurana acted for Rohto, which bought the stake for Rs 15.33 crore after a September 2013 Foreign Investment Promotion Board (FIPB) approval, according to the Press Information Bureau.

Mundkur managing partner Ramanand Mundkur partner acted for Deep which forms a joint venture with Rohto to manufacture and deal in prescription and over-the-counter ophthalmological drugs.

02 December 2013
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.

27 November 2013
Corporate M&A

BurgerLuthra & Luthra advised Indian private equity and real estate firm Everstone Capital in its joint venture with international fast food giant Burger King.

08 November 2013
Private equity / VC

ZomatoJ Sagar Associates (JSA) advised Info Edge on Rs 57 crore, Themis Associates Sequoia on Rs 170.6 crore investments in Zomato.

25 October 2013
Private equity / VC

SteroidsDesai & Diwanji advised Indore-based steroids manufacturer Symbiotec Pharmalab and shareholders in the Rs 292 crore ($48m) PE investment by Actis Medal Sports, advised by Platinum Partners.

24 October 2013
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.

22 October 2013
Litigation

The proposed takeover by Gurgaon-based Apollo Tyres of Ohio-based Cooper Tire & Rubber remained on tenterhooks, as the US company’s bid in a Delaware court to force the deal to close continued unresolved.

Amarchand Mangaldas Delhi and Sullivan Cromwell represented Apollo on the M&A deal, as reported by Legally India in June, with Jones Day having represented Cooper.

Cooper claimed that Apollo was trying to back out of the deal after union and industrial action in the US and China, reported Bloomberg, and that the Indian company agreed that it would use its reasonable best efforts to complete the deal or pay $112.5m in “reverse breakup fees”.

Apollo’s US lawyers wanted Cooper’s case to force a closing thrown out, and claimed in a letter to the court on October 18 that closing conditions to the deal had not been satisfied.

The deal, if completed, would be the largest takeover of an automobile-parts company since 2007.

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