AZB Herbert Smith SampR and Slaughter help Vodafone buy out the entire stake of its India JV Partner Essar GroupJuly 21 2011
UK-based mobile phone giant Vodafone has bought its India Joint Venture partner, Essar Group’s 33 percent stake in Vodafone Essar Limited (VEL) for $5.5 billion, ending its four year troubled relationship.
Vodafone will now hold a majority of 74 percent shareholding in the venture. The deal is subject to regulatory approval and the balance 26 percent is held by Indian shareholders.
The Mumbai office of AZB & Partners advised Essar with a team led by Partner Shameek Chaudhuri along with Associate Ashni Roy.
Herbert Smith advised Essar on the international aspects of the transaction . . .
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