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The latest deals involving Indian companies and law firms.

15 October 2014
Corporate M&A

AZB & Partners advised dialysis service provider DaVita Healthcare Partners in buying 49 per cent stake in Express Clinics which was advised by Economic Laws Practice (ELP).

AZB Mumbai partner Alka Nalavadi and senior associates Percis Anklesaria, Vijay Manjrekar and Arvind Ramesh acted for Davita.

ELP Mumbai partner Sujjain Talwar, associate partner Vinayak Burman, senior associate Archana Khosla and associate Amoolya Narayan acted for Express and its existing shareholders Somerset and Lotus Management.

DaVita had entered the Indian subcontinent in 2011, acquiring a strategic stake in NEA backed NephroLife Care according to Deal Curry.

15 October 2014
Litigation

Pro bono legal assistance NGO iProbono won a Delhi high court appeal yesterday for a now six-year-old rape victim, with the high court slamming the magistrate and trial judge in her case for questioning her like an adult witness while recording her testimony.

13 October 2014
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.

09 October 2014
Corporate M&A

Amarchand Mangaldas maintained its top spot in intelligence provider mergermarket’s M&A league rankings this quarter.

08 October 2014
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.

26 September 2014
Capital Markets

ICICI Bank issued $500m of 3.50% 2020-due notes under 144A/Reg-S in its $7.5bn Global Medium Term Note (MTN) programme, through its Dubai branch, as reported by PTI.

ICICI instructed Amarchand Mangaldas partner Niloufer Lam with senior associate Madhav Kanoria and associate Aayushi Anand on Indian laws, with Davis Polk & Wardwell as international legal adviser, and UAE firm Al Tamimi via partner Mamoon Khan with Cherry Turcal advising on Dubai and UAE laws.

Latham & Watkins Singapore partner Min Yee Ng, supported by associates Dhiraj Joseph and Zhu An Lu, acted for lead managers Citigroup Global Markets, Deutsche Bank, The Hong Kong and Shanghai Banking Corporation and Bank of America Merrill Lynch.

18 September 2014
Litigation

Candy CrushKhaitan & Co won a copyright infringement suit in the Bombay high court for once-$7.6bn King.com, the creator of the hugely popular mobile device game Candy Crush Saga .

20 August 2014
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.

20 August 2014
Private equity / VC

Winning: EverythingAZB & Partners came out on top of a 2014 first-half-year league table released by corporate analytics company Venture Intelligence, recording 22 deals worth more than $2bn.

20 August 2014
Deals in brief

Deals in BriefSome of the deals lawyers have been working on this month that we didn’t manage to cover separately.

08 August 2014
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.

07 August 2014
Corporate M&A

InoxKhaitan & 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.

05 August 2014
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.

18 July 2014
Corporate M&A

Verus Advocates Mumbai partner Jay Parikh, assisted by associates Aastha Khurana, Rashna Jehani and Priyanka Devgan, acted for Hyderabad-based Sagar Cements which sold 47 per cent of its Vicat Sagar Cement to an affiliate of its French joint-venture partner Vicat Group for Rs 435 crore. MNK Law Delhi partner Probal Bhaduri and associate Kamalika Bhattacharjee acted for Vicat.

14 July 2014
Real estate

Khaitan & Co partner Siddharth Shah has been included on the Bombay Stock Exchange’s (BSE) advisory group on real estate investment trusts (REIT) alongside 10 representatives of various banks, real estate and financial services companies, according to the PTI.

REITs are aimed at attracting long-term funds to the cash-strapped realty sector from both foreign as well as domestic investors.

It is hoped that after the newly announced budget’s exemption from capital gains tax to popularise REITs, they will bring in around $10bn of foreign funds into the realty sector by the end of this fiscal.

04 July 2014
Corporate M&A

Q1 M&A: In terrible shapeMergermarket Q1 M&A value leader AZB & Partners slipped to seventh spot in 2014’s half-yearly rankings, while Q1 ninth-ranked Amarchand made up the lag to top spot.

18 June 2014
Private equity / VC

4mjrio1nBMR Legal has continued advising online ticketing website BookMyShow in its latest fundraising round of Rs 150 crore by existing venture capital investors SAIF Partners and Accel Partners, who have continued relying on Indus Law.

03 June 2014
Capital Markets

Amarchand Mangaldas advised realty giant DLF on India’s first commercial mortgage backed securities (CMBS) issue to raise Rs 3,500 crore this fiscal.

28 May 2014
Corporate M&A

Nishith Desai Associates (NDA) advised India’s largest e-commerce player Flipkart on buying out online fashion retailer Myntra which was advised by Indus Law. One of the existing investors IDG Ventures India I LLC which was advised by Samvad Partners

26 May 2014
Private equity / VC

Desai & Diwanji advised Fidelity Capital in the sale of its equity in Laurus Labs, which was advised by Amarchand Mangaldas, to Warburg Pincus which was advised by AZB & partners.

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.