Mukesh Ambani’s Reliance Industries, for its telecoms upstart giant Jio, has agreed to buy a majority 51.3% stake in Hathway Cable & Datacom for Rs 2,940 crore through a preferential issue and an open offer to minority shareholders in Hathway subsidiary GTPL Hathway, according to reports.

Cyril Amarchand Mangaldas managing partner Cyril Shroff with partners Ravi Kumar, Anchal Dhir and Yashojit Mitra have advised Reliance Industries and Jio on the transaction. CAM’s due diligence was led by Mumbai-based partners Manisha Kumar and Manu Varghese. New Delhi-based partner Ranjan Negi assisted on due diligence related to intellectual property. Mumbai-based partners Avaantika Kakkar and Anshuman Sakle advised on competition law aspects.

Trilegal advised Hathway Cable & Datacom Limited (HCDL) led by a team including partners Sridhar Gorthi and Kunal Chandra, senior associates Harshil Dalal, Deep Choudhuri and Debaditya Datta, and associate Akriti Gupta.

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