•  •  Dark Mode

Your Interests & Preferences

I am a...

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

Website Look & Feel

 •  •  Dark Mode
Blog Layout

Save preferences
Subscribe for perks & to support LI

The latest deals involving Indian companies and law firms.

Big-ticket $18m showExclusive: Desai & Diwanji advised India’s largest entertainment ticketing website BookMyShow in the Rs 100 crore ($18m) capital and equity infusion to be made in it by global internet-business venture capitalist (VC) Accel Partners, advised by IndusLaw.

Amarchand Mangaldas Mumbai and Delhi advised Bain Capital with US firm Ropes & Gray in the $1bn purchase of 30 per cent of shares in global outsourcer Genpact, which was advised by Cravath Swaine & Moore. Two selling private equity funds were assisted by Nishith Desai Associates and Paul Weiss.

imageMore deals than you can shake a stick at in our handy round-up of deals activity, with dozens of firms keeping busy.

Gutka_vendor_in_India ALMT Legal won a stay on the Maharashtra state government’s order to destroy the gutka and paan masala siezed from tobacco major Ghodawat Pan Masala Products (Ghodawat) and five other gutka makers, in the Bombay high court yesterday.

Verus' Jay Parikh Verus advised India-based leading global wind-power company and longstanding client Suzlon Energy (Suzlon) in the Rs 160 crore ($40m) sale of its 58 MW wind-farm Suzlon Engitech to an undisclosed purchaser, which was advised by Desai & Diwanji.

road-works-digger Exclusive: Link Legal pipped last year’s leader Amarchand Mangaldas at the top of the 2012-half-year Dealogic project finance rankings, reporting seven deals worth Rs 27,106 crore ($4.9bn).

imageCorporate M&As continued to buttress law firm activity, while one NUJS graduate sweated it out with a high profile Delhi high court case. Khaitan & Co also kept busy in finance and capital markets, and projects and private equity proved solid.

credit-cards Exclusive: PXV Law Partners advised its long standing client, prepaid payments program manager TranServ, in its sale of equity to venture capital (VC) fund Nirvana Venture Advisors, which was advised by Nishith Desai Associates.

transportation engineeringTrilegal advised ICICI Bank and a consortium of lending banks in the Rs 8,300 crore ($1.5bn) debt restructuring of Mumbai-based engineering and construction major Hindustan Construction Company (HCC) which was advised by Amarchand Mangaldas.

Dutch-cheese-maidens Exclusive: J Sagar Associates (JSA), Nishith Desai Associates (NDA), Fox Mandal, international law firms Linklaters and two European firms, advised a consortium of investors led by Dutch pension services provider APG, in their Rs 770 crore ($141m) co-investment in Godrej’s Indian residential projects.

Breaking: Fox Mandal advised nine international cricketers who yesterday filed in the Bombay high court to liquidate ALMT Legal-advised Essel Sports (ESPL), the sports-entertainment wing of business conglomerate Essel Group.

Tri-week packJuris Corp, I&S Associates, Indus Law, MDP & Partners, along with Amarchand Mangaldas, AZB & Partners, Khaitan & Co, Luthra & Luthra, Trilegal and others kept busy on 15 selected deals.

M&As and capital markets transactions take a marginal lead over litigation, competition and private equity and venture capital deals, in our three-week roundup.

PiratesBreaking: Following the recent trend set by the Delhi high court since 2011, the Bombay high court passed its first ex parte, unconditional “John Doe” order to pre-emptively ban the piracy of Viacom 18 Motion Pictures film Gangs of Wasseypur, said the company’s lawyers Naik Naik & Co.

The rest of the week's deals in one packageThis fortnight’s deals package conspicuously features international investors, not only in terms of cross-border M&As and investments but also on the litigation side.

Stock markets2012: deadLI-Mint exclusive: Law firms saw a slump in earnings from their capital markets business in the year that ended March. Many that had invested heavily in the practice during the boom years adopted various strategies to cope with the decline.

Wireless Exclusive: Amarchand Mangaldas, AZB with international firms Jones Day and Penningtons advised Bharti Airtel on its $165m purchase of Qualcomm 4G spectrum licences in India, according to several sources close to the deal.

Thomas Cook flies awayAZB & Partners and international law firm Shearman & Sterling advised a Canadian financial holdings company’s investment subsidiary Fairbridge Capital in its purchase of 76.81 per cent equity for Rs 817 crore ($150m) in British holiday maker Thomas Cook Group’s (TCG) Indian subsidiary Thomas Cook India (TCIL). TCG was advised by Trilegal with international best friend law firm Allen & Overy.

clip_image001J Sagar Associates (JSA) and international law firm DLA Piper advised Dutch pension services provider APG Strategic Real Estate pool Netherlands in its Rs 650 crore ($123m) investment in leading Indian hotel chain Lemon Tree Hotels and its subsidiary Fleur Hotels which were advised by AZB & Partners.

The rest of the week's deals in one packageMergers and joint ventures lead last month’s largest deals, while private equity, capital markets, litigation and competition policy also nestle in.

linkedin-iconFox Mandal Bangalore instructed by US law firm Wilson Sonsini Goodrich and Rosati (WSGR) advised business and professional networking website LinkedIn on its Rs 632 crore ($118m) acquisition of presentation sharing service Slideshare which was advised by US law firm Fenwick & West LLP.

Khaitan & Co advised public sector undertaking Nuclear Power Corporation of India (NPCIL) in its external commercial borrowing (ECB) of Rs 1,343 crore ($250m) from State Bank of India, Singapore which was advised by Baker & McKenzie Wong & Leow and Dua Associates.

imageLast month’s largest deals and the legal advisers that guided and benefited from them.

Bharucha & Partners advised Axis Bank that sold 25 per cent of its shares in Axis Asset Management to Amarchand Mangaldas-advised Schroders.

J Sagar Associates advised TVS Logistics Services, opposite AZB & Partners’ Mumbai and Delhi offices that respectively advised Kohlberg Kravis Roberts (KKR) on its first round of funding and Goldman Sachs on its second investment into the Indian logistics company that has plans to aggressively expand abroad.

Bombay Stock Exchange AZB & Partners advised Nasdaq-listed information technology services company iGate Corp in its Rs 1,400 crore ($271m) voluntary delisting of its Mumbai-based unit Patni computer systems, which was jointly advised by Wadia Ghandy and international law firm Hogan Lovells.

M&A league table Amarchand Mangaldas and Luthra & Luthra have each racked up over $10bn worth of deals to top the M&A Indian mergermarket league table for the first quarter of 2012, displacing 2011 first quarter (Q1) frontrunner AZB & Partners.

image Amarchand Mangaldas’ Bangalore office advised Japan’s largest non-life insurer Mitsui Sumitomo in its Rs 2,731 crore ($530m) purchase of 26 per cent in the joint venture (JV) of Indian insurer Max India and US insurer New York Life Insurance, which were respectively advised by AZB & Partners and Paul Weiss, and Platinum Partners and Freshfields Bruckhaus Deringer.

imageFourteen 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.

Promoter-friendly issueS&R Associates and Jones Day advised the book running lead managers (LMs) Kotak Mahindra Capital and UBS Securities India on the first ever Institutional Placement Programme (IPP) in India. Indian realty major Godrej Properties’ (GPL) issued a private placement of Rs 4.9 bn ($95m) of equity shares worth Rs 575 each. GPL was advised by Amarchand & Mangaldas & Suresh A Shroff & Co.

Akila Agrawal Amarchand Mangaldas scored a first-time mandate for Japanese conglomerate NEC Corporation in assisting Davis Polk & Wardwell in its $449m (Rs 2280 crore) acquisition of US telecoms company Convergys Corporation’s information management (IM) business.

imageLegally India’s round-up of the latest 15 cases and deals and their legal advisers, including Luthra’s defence of Yahoo! India in two high-profile cases, and a massive boom in debt capital markets – but only one equity cap markets deal for AZB.

India, fabricating fabulous kurtas since 1960 AZB & Partners has for the first time advised L Capital, the private equity arm of luxury goods giant Louis Vuitton Moët Hennesy (LVMH), which bought 8 per cent in Indian clothes and lifestyle product retailer Fabindia from Wolfensohn Capital Partners, which was represented by Luthra & Luthra. Menon Associates is understood to be representing Premji Invest on its 7 per cent investment.

Buildin' roads!Desai & Diwanji advised the Ashok Piramal Group in its Rs 1250 crore to Rs 1500 crore ($250m to $300m) three-way joint venture (JV) with Canadian engineering group SNC-Lavalin, which was advised by Economic Laws Practice (ELP), and IDFC project equity’s investment fund India Infrastructure fund (IIF), which was advised by Khaitan & Co.

MCX-SX might get wider trading future The Bombay High Court has today ruled in favour of MCX Stock Exchange (MCX-SX), represented by J Sagar Associates (JSA) and Naik Naik & Co, against the Securities and Exchange Board of India’s (SEBI) decision to prevent MCX from trading in derivatives and other products.

K Law and Linklaters have advised Reliance Industries on its Rs 22bn ($450m) joint venture with Russian petro company Sibur, which was advised by Khaitan & Co and Herbert Smith, as Legally India had earlier reported.

Deals deals deals Six deals in brief covering capital markets, M&A, competition law and more.

Khaitan & Co., alongside Herbert Smith, advised Russian petrochemical giant Sibur in sale of 74.9 per cent equity for Rs 22 bn ($450 m) to Reliance Industries for setting up a joint venture (JV) Greenfield project manufacturing synthetic rubber. Reliance Industries was advised in-house.

Khaitan & Co, alongside Travers Smith, advised legal process outsourcing (LPO) company CPA Global in its acquisition by European buyout firm Cinven which was advised by Freshfields Bruckhaus Deringer.

mining Amarchand Mangaldas Delhi office has scooped the mandate to merge Vedanta’s Sterlite Industries unit with Sesa Goa to decrease the mining conglomerate’s debt.

Deals in brief 17 deals and cases in brief this week, spanning M&A, a raft of financings, private equity, debt and equity capital markets and litigation.

Uninterruptible powerExclusive: Amarchand Mangaldas advised French electrical and digital building infrastructure major Legrand Group in its Rs 837 crore ($171m) acquisition of Chennai-based Numeric Power Systems’ uninterruptible power supply (UPS) business, which as advised by Universal Legal.

Telecoms in India: Old news, get out now? Khaitan & Co advised Bahrain-headquartered telecom service provider Bahrain Telecommunications Company (Batelco) in its $174m stake sale in its Indian joint venture STel to Skycity Foundation, which was advised by Rajani Associates.

Road worksExclusive: Amarchand and Mangaldas has replaced last year’s project finance leader Luthra & Luthra to secure the top rank among India’s 10 highest cap project deal firms in 2011, according to data provider Dealogic.

Deals in briefDeals with Dua Associates, AZB & Partners, Khaitan & Co, Vichar Partners, Majmudar & Co, J Sagar Associates (JSA) and more…

Pharma DSK Legal advised Bangalore-based pharmaceutical company Strides Arcolab in the sale of its 94 per cent shareholding in its Australian and Southeast Asian subsidiary Ascent Pharmahealth to US- based Watson Pharmaceuticals for A$375m (Rs 1965 crore), alongside Herbert Smith and Australian firms Freehills and Middletons.

Starbucks: Everywhere Luthra & Luthra has advised Tata Global Beverages on its joint venture with US coffee chain giant Starbucks Corp, which drafted in Amarchand Mangaldas.

J Sagar Associates (JSA) advised Gurgaon-based cloud telephony solutions provider Knowlarity Communications on a Rs 34 crore ($6.6m) investment it received from California-based Venture Capital firm Sequoia Capital, which was advised by Luthra & Luthra.

Exclusive: AZB & Partners Delhi office advised NBFC Religare Finvest in which private equity firm NYLIM Jacob Ballas purchased a Rs 200 crore ($39.8m) stake, which was advised by S&R Associates.

image Exclusive: Desai & Diwanji advised private equity house Olympus Capital Asia Investments in its purchase of over Rs 500 crore ($100m) in DM Healthcare, which was advised by Universal Legal’s Chennai office, with the exiting investors India Value Fund represented by DSK Legal.

Domestic M&A league table by deal values (source mergermarket, graphic: Mint)Mint exclusive: India’s corporate law firms advised on fewer and smaller mergers and acquisitions (M&A) in the 2011 calendar year than in 2010, which affected revenues but still kept firms such as AZB & Partners, Amarchand Mangaldas, Khaitan & Co, J Sagar Associates (JSA) and Desai & Diwanji busy with a lion’s share of work.

Four-month-old start-up Alliance Legal has advised Fourcee Infrastructure Equipments, with Economic Laws Practice (ELP), Wadia Ghandy and Amarchand Mangaldas respectively assisting the exiting, entering and continuing private equity investors Mayfield Fund, General Atlantic and India Equity Partners.

image J Sagar Associates (JSA) continued its relationship with private equity major Blackstone in the Rs 800 crore ($156m) purchase of DLF Ackruti Infopark in Pune, which drafted in Amarchand Mangaldas.

image Exclusive: AZB & Partners Mumbai and Khaitan & Co’s Delhi office have scooped the mandate to advise on Reliance Industries bid to invest in two Network18 subsidiaries for more than Rs 1,500 crore ($290m).

imageThe latest and greatest deals and cases not yet covered, rounded up for you in one convenient bite-size package.

Latest comments