Covington & Burling
“In a deal led by Reliance Jio director Akash Ambani, Reliance Industries today signed an agreement for merging the digital music service Saavn with JioMusic to create a digital media platform with global reach having total value of over $1 billion,” reported PTI.
J Sagar Associates (JSA) and Covington Burling advised the world’s largest brewer Anheuser-Busch InBev on its exit from a joint venture with RJ Corp, which was advised by Dua Associates.
JSA partner Upendra Nath Sharma, senior Associate Rishabh Gupta and associate Ritunjay Gupta with intermitten strategic inputs from JSA chairman and founder Jyoti Sagar acted for the Belgium-headquartered brewery, which will now operate through Crown Beers India.
Dua partner Himanshu Narayan, manager Amarta Roy and associate Shloka acted for RJ Corp.
The deal will allow Anheuser-Busch InBev, whichhas over one-fourth of the world’s market share for beer including brands such as Budweiser, Corona, Stella Artois, Beck’s, Leffe and Hoegaarden, to expand in India independently through additional brand investment and capacity expansion, explained JSA in its press release.
AB InBev will exit the joint venture, paying anywhere between $100m and $150m to Ravi Jaipuria-owned RJ Corp, reported Mint.
The Bar Council of India’s (BCI) appeal opposing entry of foreign law firms into India today inched forward in the Supreme Court, as the respondents finished filing their written submissions 32 months after the first hearing in the case.
Twenty months after the Supreme Court (SC) had given 10 weeks to complete serving notices on foreign law firms, the Bar Council of India (BCI) appeal against foreign law firms practicing in India, remains stuck at the service stage.
Four senior counsel and Naik in SLP against immovable property rental service tax; AZB Bangalore Muthoot debentures; Universal-Wadia Ghandy Pizza Hut deal; Infrastructure India windfarm buy with 3 foreign firms and KhaiCo, MMB; ANM for Godrej in cyber squatter; Rs 200 crore P&A Kemrock buy; Amarchand Essar delisting.
J Sagar Associates (JSA) and US firm Covington & Burling advised Disney, which is seeking to buy-out its Indian partners in the UTV joint venture for $454m, with AZB & Partners advising UTV’s promoters.
AZB & Partners’ Mumbai and Delhi offices advised on both sides of the financial services joint venture between India’s largest private sector enterprise Reliance Industries and US investment group D E Shaw with Debevoise & Plimpton and Covington & Burling.
Covington & Burling and Trilegal have co-operated on the IPO of Indian Energy on London's Alternative Investment Market (AIM), which is only the fourth successful listing this year on the London Stock Exchange-owned smaller market.