PDS Legal and Desai & Diwanji together acted for the Wadia group-owned airline GoAir in its order to buy another 72 Airbus 320 NEO aircrafts for around $7.7bn.
PDS partner Vihang Virkar - who had joined PDS from Desai & Diwanji in January 2015 - with principal associate Ayesha Rai acted for Go Air.
Desai & Diwanji partner Apurva Diwanji also acted for Go.
According to a PDS lawyer, both firms were jointly instructed on the deal by the client.
The order of 72 aircraft comes on top of a 2011 order of another 72 identical aircraft from Airbus, reported the Times of India
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As a mom-n-pop shop practitioner with 4-5 lawyers, my take is that most "big" deals end up in disproportionately low fees (as a percentage of deal size), while consuming inordinate band-width.
So one wonders whether/how any of this hoo-ha is really worth it..
I wish some day us small-fries will understand the mechanics of big-ticket deal billing.
Further btw, in stark contrast to other publicity-hoggers, PDS founder Prakash Shah typically stays in the shadows in PDS deals.. Nice!
Part of that is because whether one aircraft or 72 aircraft, the documentation will be pretty much the same except for the number, whereas in an M&A, the DD and complexity of a deal 72 times the size will generally be somewhat more than the smaller deal.
But I might be talking out of my backside - any assets lawyers care to shed some more light?
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