Platinum Partners
J Sagar Associates (JSA) acted for Suprajit Engineering Limited, which bought 51 per cent of equity shares of Phoenix Lamps Limited from the Actis Group, which was advised by Platinum Partners and E&Y, followed by an open offer.
JSA Bangalore partners Murali Ananthasivan and Mary Julie John, and Delhi-based partner Amitabh Kumar acted for Suprajit, with senior associate Gautam Shahi and associate Rajashree Balasubramanian. Grant Thornton was the financial adviser to Suprajit.
Platinum Mumbai partner Gautam Bhat acted for Actis.
Both buyer and target are listed on the Bombay Stock Exchange and the National Stock Exchange. SEL is a supplier of cables and components to overseas and domestic customers in the automotive and non-automotive sectors. Phoenix is the largest manufacturer of automotive lamps in India and has three subsidiaries in Europe, according to a JSA release.
SEL acquired 51% equity shares in a first tranche and will complete acquisition of the remaining non-public shareholding of Phoenix in a subsequent tranche post-completion of an open offer, reported Moneycontrol.
Karvy Investor Services acted as adviser to the open offer, without the law firms advising.
Kochhar & Co advised global clinical research conglomerate the Parexel Group and its Indian group company Parexel India on buying for $100m pharma-covigilance company Quantum Solutions India, which was advised by Platinum Partners.
Kochhar senior Delhi-based partner Vijay Ravi, partner Chandrasekhar Tampi and senior associate Sumant Srivastava acted for Parexel India and the Parexel Group.
Platinum’s recent Wadia Ghandy Bangalore joinee and partner Ankit Majmudar and associate Rohan Kumar acted for Quantum and its proprietor Apurva Goswamy.
The acquisition will not significantly impact Parexel’s fiscal year 2015 revenue, reported Mint.
Platinum Partners partner Nivedita Tiwari will join Cyril Amarchand Mangaldas as a partner in Delhi.
GNLU Gandhinagar has already placed a total of 24 students on its Day Zero held yesterday, out of a batch of 155, of whom 115 took part in the recruitment process.
Wadia Ghandy Bangalore partner Ankit Majmudar is set to leave the firm early next year.
MNK Law Offices M&A and private equity partner Nivedita Tiwari, who joined one year ago from Luthra & Luthra, has joined Platinum Partners in Delhi, according to an authoritative source.
14 Indian law firm partners and senior associates will be named as “up and comers” and “associates to watch” in legal directory Chambers and Partners’ yet-to-be released Asia Pacific 2014 guide.
Desai & 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.
AZB & Partners dropped off data provider Merger Market’s half-yearly (H1) M&A league table despite reporting 21 deals – the highest among India’s top ten law firms.
The incumbents continued their rule in the consultancy’s 2013 ranking of law firms, while the ecosystem as a whole has widened.
AZB & Partners did the greatest number of deals (13) in the first quarter of this year, according to the mergermarket M&A deal rankings.
Pro bono appetites growing.
Breaking: Herbert Smith Freehills (HSF) and DSK Legal advised old-client Strides Arcolab in the $1.6bn+ sale of its injectables subsidiary Agila Specialties to Nasdaq-listed generic drugs-maker Mylan Inc.
Breaking: Platinum Partners and Slaughter and May advised London-based drinks giant Diageo on its overall complete £1.28bn (Rs 11,166 crore) acquisition of Vijay Mallya-promoted United Spirits, which was advised by Amarchand Mangaldas Mumbai office, as well as Kanga & Co and Herbert Smith Freehills.
Platinum Partners with Freshfields Bruckhaus Deringer advised UK oil and gas major BG Group on its sale of state-owned Gujarat Gas Company for over Rs 2,400 crore to Gujarat State Petroleum Corporation’s (GSPC) subsidiary GSPC Distribution Networks, involving India’s first long form merger control clearance.
More deals than you can shake a stick at in our handy round-up of deals activity, with dozens of firms keeping busy.
Last month’s largest deals and the legal advisers that guided and benefited from them.
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.