The State Bank of India has appointed AZB & Partners and Shardul Amarchand Mangaldas & Co as the legal counsels for the merger with associate banks and Bhartiya Mahila Bank, reported Economic Times. AZB & Partners team would be led by Partner Ashwath Rau, who recently joined the firm from Cyril Amarchand Mangaldas. Shardul Amarchand’s National Banking Head Sapan Gupta would be leading the team. SBI has mandated JM Financial as an independent merchant banker while E&Y, PWC, Grant Thornton, BDO Consulting are working on valuations of all the banks involved. This merger would create a banking entity with total assets […]

Huhtamaki Finance Company II B.V., a group company of Huhtamaki Oyj has acquired 51% shareholding in Valpack Solutions, a company engaged in food service packaging. Trilegal advised Huhtamaki with a team led by Partner Karan Singh. Veritas Legal represented the Sellers and the Company in this transaction. The team included Partners Abhijit Joshi and Tushar Raut along with Associates, Somrita Chatterji and Tejasvi Saxena. With the acquisition Huhtamaki enters the growing foodservice packaging market in India, where many of its key customers already are present.

Indian e-commerce giant Flipkart has acquired another fashion retail website, beating competitors Snapdeal to the chase. Myntra, owned by Flipkart, has acquired Jabong for $70 million from Global Fashion Group. Khaitan & Co acted for Flipkart, through a team led by Partner Ganesh Prasad and including Senior Associate Rohith Rajendran and Associate H Muralikrishnan. BMR Legal represented Global Fashion Group, which previously owned Jabong. The team was led by Partner Amit Khansaheb and included Principal Vishruta Kaul and Senior Associate Deep Jain. According to Livemint, the sale marks one of the most dramatic declines in India’s online retail business. At […]

TPG has acquired a majority stake in Rhea Healthcare for a value of around $35 million. Shardul Amarchand Mangaldas advised TPG on the transaction. The Private Equity team was led by Partner Iqbal Khan, and included Senior Associate Shahin Umani and Associates Ranjini Ramesh and Tanavi Mohanty. The Tax counsels to the transaction were Partner Abhay Sharma and Principal Associate Oscar D’Sa. The Real Estate counsels to the transaction were Partner Ashoo Gupta and Principal Associate – Designate Daryush Marfatia. The Intellectual Property counsels to the transaction were Partner Dev Robinson and Associate Madhur Chopra. The Litigation counsels to the […]

Realty major DLF has restructured its joint venture with global investment firm Blackstone-managed Ridgewood Holdings that was to develop seven residential projects across Bangalore, Chennai, Kochi and Indore. Dua Associates advised DLF with a team led by Partners Munish Sharma, Jaspreet Sareen, Gunjan Malviya and Suneera Tandon. The team also included Managers Punish Arora, Anirudh and Associate Kshitij Arora along with Senior Advisor Sunil Malik. Cyril Amarchand Mangaldas advised Ridgewood with a team led by Partner Reeba Chacko. As part of the restructuring, Ridgewood will take 100% control of certain projects while DLF will take full control of other projects, […]

After the recent liberalisation of foreign investment in the insurance sector, Prism Cement Limited has sold 23% out of its 74% stake in Raheja QBE General Insurance Company Limited to QBE Asia Pacific Holdings Limited. The transaction was valued at more than 21 million Australian Dollars. Trilegal advised Prism Cements on the transaction, whereas Cyril Amarchand Mangaldas acted for QBE. The Trilegal team was led by Partner Ashwyn Misra, along with Counsel Shamin Shah, Senior Associates Saswat Subasit and Gautam Chawla (Competition Law) and Associate Jeet Chaudhuri. The team from Cyril Amarchand was led by Partner Leena Chacko, Principal Associate Tirthankar […]

Five Star Business Credits, which provides loans to micro entrepreneurs, has raised fresh funding of Rs. 114 crore from investment firm Morgan Stanley Private Equity Asia. Vertices Partners, set up by 3 ELP lawyers in March this year, advised Five Star Business Credits with a team led by Partners Vinayak Burman and Archana Khosla, along with Associate Tanvi Pande. Cyril Amarchand Mangaldas acted for Morgan Stanley PE with a team led by Partner Nivedita Tiwari, along with Senior Associate Shivani Kabra and Associates Aditya Dayal and Vartika Mishra. The existing investor Matrix Partner was advised by its in-house team. Five Star plans […]

Wadia Group-promoted GoAir has signed an agreement with European airplane manufacturer Airbus to buy 72 A320neos in a deal worth $7.7 billion. PDS Legal and Desai & Diwaji acted for Wadia Group’s GoAir. The PDS Legal team was led by Partner Vihang Virkar along with Principal Associate Ayesha Rai. The Desai Diwanji team was led by Partner Apurva Diwanji. Airbus was advised by its in-house team. With the induction of the new fleet, GoAir will expand its network and offer fliers better connectivity, reported Mint.

LafargeHolcim is selling its Lafarge India business to Nirma Ltd. for an enterprise value of around $1.4 billion (9,300 crore). AZB & Partners’ Ashwath Rau along with Dhruv Singhal, who recently moved from Cyril Amarchand Mangaldas, are advising LafargeHolcim. Cyril Amarchand Mangaldas Competition Partner Nisha Kaur Uberoi, who has also resigned to move to AZB, is advising Holcim Lafarge on competition law aspect. Uberoi is still on notice period. Crawford Bayley advised Nirma with a team led by Partner Sanjay Asher and Associate Partner Bhumika Batra along with Sanchita Shetty, Sanskriti Relekar, Anuja Takle Aparajita Chakraborty and Megha Shankar. The […]

International Finance Corporation (IFC) has invested Rs. 134 crore in FMCG manufacturer Future Consumer Enterprises Limited (FCEL). Shardul Amarchand Mangaldas advised FCEL on the transaction. The team was led by Partner Kalpataru Tripathy and also included Senior Associate Aditya Mehra and Associate Roma Das. Trilegal, led by Partners Ravindra Bandhakavi and Vaibhav Kothari, were the advisors for IFC. The other team members include Counsel Moksha Bhat, Senior Associate Pooja Singhania, and Associates Adhideb Bhattacharya, Srishti Goyal and Antara Priya. Earlier this year, Shardul Amarchand Mangaldas had also advised on the Rs. 300 crore investment in FCEL, by Black River Food.