Indian insurance company Global Insurance Services Brokers and its promoters Prabodh Thakker and Sunita Thakker have acquired the entire stake of 26% of Aon Holdings B.V in their Indian Insurance JV broking company, Aon Global Insurance Brokers for an undisclosed amount. Post the acquisition, the name of the company has been changed to Global Insurance Brokers Private Limited. DSK Legal led by Partner Satish Kishanchandani and Senior Associate Jayesh Kothari acted for Global Insurance Services Brokers and its promoters. Trilegal team led by Delhi Partner Harsh Pais, Counsel Clarence Anthony and Associate Sanjam Arora acted for Aon Holdings B.V. The […]

The Competition Commission of India (CCI) today unconditionally approved the merger of the telecommunications businesses of Vodafone India Limited, and its wholly-owned subsidiary Vodafone Mobile Services Limited, with Idea Cellular Limited. The USD 23 billion transaction is the largest transaction by value in the history of Indian M&A. Shardul Amarchand Mangaldas and Trilegal acted on  the competition law aspects of the deal and secured CCI’s approval for the deal. The deal required a complex merger notification, in a detailed Form II filing, to be filed with the Commission, including a detailed assessment of the interplay between economics, competition law and […]

Reliance Industries has acquired a 24.92% stake in film and television production house Balaji Telefilms for Rs. 413.28 crore($64 million). AZB & Partners advised Reliance Industries with a team led by Partners Ashwath Rau, Nilanjana Singh and Ami Parikh along with Senior Associate Vasudha Asher and Associate Pranav Atit. Shardul Amarchand Mangaldas acted for Balaji Telefilms and the team was led by Mumbai Managing Partner Akshay Chudasama along with Sayak Maity and Kathya De Braganca. The stake purchase will give RIL access to content generated by Balaji Telefilms for use by its telecom arm, Reliance Jio Infocomm Ltd, reported Mint.

Private equity giant KKR has agreed to acquire a 49% stake in Indian hospital management company Radiant Life Care Pvt. Ltd for $200 million (Rs 1,288 crore). AZB & Partners advised KKR with a team led by Partners Ashwath Rau and Harsh Maggon along with Senior Associate Atreya Bhattacharya. Partner Rahul Rai advised on Competition law aspect. Nishith Desai Associates Partner Nishchal Joshipura along with Dipanshu . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to all archival […]

Warburg Pincus is investing up to $100 million (Rs. 645 crore) in Mumbai-based rooftop solar projects developer CleanMax Solar. AZB & Partners advised Warburg Pincus with a team led by Partners Anil Kasturi and Niladri Maulik along with Senior Associates Kanchan Puri and Anisha Shridhar. Platinum Partners acted for CleanMax Enviro Energy Solutions and the team included Partner Ankit Majmudar and Sunandan Majumdar. CleanMax, which . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to all archival […]

Education technology start-up Byju’s has acquired TutorVista and Edurite business of Pearson India for an undisclosed amount. With this acquisition, Byju’s is expanding its global reach as well as offerings for students, reported Mint. Obhan & Associates advised Pearson with a team led by Partner Ashima Obhan along with Associate . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to all archival material Access to all Bar & Bench reports Register Already a subscriber ? Login

Indian private equity firm Premji Invest has invested Rs. 700 crore ($109 million) picking up a 2.2% stake in Aditya Birla Capital. The deal values the financial services arm of the Aditya Birla Group at Rs 32,000 crore, reported ET. AZB & Partners acted for Premji Invest . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to all archival material Access to all Bar & Bench reports Register Already a subscriber ? Login

GE Energy Financial Services is expanding its Indian renewable energy portfolio and is investing $90 million in 3 group companies of RattanIndia to develop a solar power project portfolio of 500 megawatt, reported Mint. Cyril Amarchand Mangaldas advised GE Energy Financial Services. J. Sagar Associates advised RattanIndia Group with a . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to all archival material Access to all Bar & Bench reports Register Already a subscriber ? Login

Unbxd, a cloud-based product discovery platform for e-commerce firms, has raised $12.5 million in a Series C funding round led by Eight Roads Ventures, the investment arm of Fidelity International. Infosys Ltd co-founder Kris Gopalakrishnan, along with existing investors IDG Ventures, Inventus Capital Partners and Nirvana Ventures also participated in the round. Rajaram Legal advised Unbxd and the team was led by Partners Archana Rajaram and Priyadarshini Sherchan along with Aparna . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and […]

Tata Steel has sold its stake in Tata Motors to Tata Sons, the holding company of Tata conglomerate, for 37.9 billion rupees ($586.3 million). Tata Steel sold about 83.54 million shares at 452.80 rupees per share. AZB & Partners advised Tata Steel and the team was led by Partners Shameek Chaudhuri and Varoon Chandra. Cyril Amarchand Mangaldas advised Tata Sons with a team led by . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to all […]

Smart Controls India Limited has entered into a joint venture with Zeppelin Systems of Germany where Zeppelin will invest around USD 2.5 Million initially for a 40% stake in the business. Smart Controls India Limited, an innovation driven company gives turnkey solutions for process automation, SCADA and IT integration to almost all industry verticals. A team from Advaita Legal team led by head of Corporate, Satyajit Gupta, advised Smart Controls and the controlling promoters.

Mswipe, which makes credit card swipe machines, has raised USD 31 million (over Rs 200 crore) from UC-RNT Fund — a joint venture between Ratan Tata’s RNT Associates and the University of California. The existing investors Matrix Partners India, Falcon Edge Capital and DSG Consumer Partners also participated in this round. Clove Legal advised Mswipe and the team included Partner  Amit Sirsikar and Associate  Nupur Rustagi. UC RNT was advised . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to […]

Kirloskar Oil Engines Ltd is buying a majority stake in La-Gajjar Machineries, the maker of Varuna and Raindrop brands of electric pumps. Kirloskar will acquire a 76% stake in the company at a valuation of 7.89 times earnings before interest, taxes, depreciation and amortization, reported Mint. DSK Legal advised Kirloskar and . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to all archival material Access to all Bar & Bench reports Register Already a subscriber […]

The Pune Municipal Corporation (PMC) has raised Rs 200 crore by selling 10-year bonds, becoming the first civic body to tap money from this route in 14 years. The issue, handled by SBI Capital Market, was oversubscribed six times, having received subscriptions worth Rs 1,200 crore. Proceeds from the issue, raised at a coupon of 7.59 per cent, will be used for a Rs 2,300-crore water project, reported

Ahmedabad-based Snacks maker Chhajed Foods has raised Rs 30 crore ($4.67 million) from venture capital firm from GVFL Ltd. Krishnamurthy & Co advised Chhajed Foods team was led by Partner Sankar Narayan Swamy and Associate Partner Aparnaa Bhalotia. Shardul Amarchand Mangaldas advised GVFL with a team led by Partner Pankaj Agarwal. It will use the funds to expand its manufacturing capabilities and distribution reach. The . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to […]

Private Equity giant Warburg Pincus is investing $360 million (Rs. 2,323 crore) for a 43% stake in Tata Technologies Limited. Shardul Amarchand Mangaldas advised Warburg Pincus with a team led by Mumbai Managing Partner Akshay Chudasama. AZB & Partners advised Tata Motors and Tata Capital with a team led by Managing Partner Zia Mody along with Partners Ashwin Ramanathan and Nilanjana Singh.

In a first, National e-Governance Services Ltd. (NeSL), a Union Government company, has received an in-principle approval for establishing Information Utility (IU) in India. NeSL is owned and promoted by leading public institutions like SBI, LIC, Canara Bank, Bank of Baroda, ICICI Bank, CDSL, HDFC, Axis Bank, Union Bank of India, NABARD etc. Under Insolvency and Bankruptcy Code, 2016 (IBC . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to all archival material Access to […]

Kolkata-based Wow Momo has raised Rs. 44 crore as Series B funding from Lighthouse Funds and Indian Angel Network. Khaitan & Co advised Wow Momo with a team led by Partner Arindam Sarkar along with Principal Associate Suhana Islam, senior Associate Prithwijit Gangopadhyay and Associate Shourya Sengupta with specialist inputs from Partner Supratim Chakraborty. Due Diligence Aspects: Gaurav Dasgupta (Principal Associate); Gautam Banerjee (Principal Associate); Nikita Bhuwania (Associate) and Aritri Roy Choudhury (Associate)

Dentsu Aegis Network, a global digital marketing communications company, has acquired SVG Media in an all-cash transaction in one of the largest buyout deals in the space in India, reported ET. London-headquartered Dentsu has reportedly paid $110-$125 million (Rs 832-Rs 732 crore) to buy SVG Media. The transaction gives the promoters of . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to all archival material Access to all Bar & Bench reports Register Already a […]

Paint manufacturer Berger Paints has acquired specialty coatings maker Saboo Coatings Pvt. Ltd for a consideration of Rs. 81.77 crore (US$ 12.6 million). Vaish Associates advised Saboo Coatings with a team led by Partner Vinay Vaish along with Associate Partner Manish Tully, Senior Associate Shivang Sargoch and Associate Ridhima Khurana. Berger Paints was represented by their in-house legal and finance teams.

Drug firm Strides Shasun has inked a pact with Vivimed Labs to set up two joint venture firms, reported ET. Universal Legal acted for Strides Shasun with a team led by Chennai Partner – Sameena Chatrapathy along with Associates – Shreya Deora,  Vidhyutha L, Ashtawadh Balan and Sumedha Giridharan. Ex-DSK Legal Partner . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to all archival material Access to all Bar & Bench reports Register Already a subscriber […]

Incessant Technologies, an NIIT Technologies is acquiring 55% stake in RuleTek LLC, a BPM architecture services company. J. Sagar Associates advised Incessant Technologies with a team led by Partner Lalit Kumar along with Principal Associate Bharati Joshi, Senior Associate Mohan Kumar and Associate Amandeep Singh Virk. Squire Patton Boggs acted as the foreign counsel for Incessant. RuleTek and its promoters were represented by The Law Offices of David Schwinger PLLC . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year […]

GVK has sold its residual 10% stake in Bangalore International Airport to Fairfax India Holdings for Rs 1,290 crore. The move will help it reduce “debt burden” and focus on Mumbai and Navi Mumbai airports, reported ET. Cyril Amarchand Mangaldas advised GVK Mumbai-based infrastructure . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access to all archival material Access to all Bar & Bench reports Register Already a subscriber ? Login

Steadview Cap, Malabar Funds and Ronnie Screwvala have acquired 33 percent stake in Neuland Health Science Pvt Ltd, the holding company of Neuland Laboratories Ltd from InvAscent, a pharma and healthcare-focused private equity firm. Luthra & Luthra Law Offices advised Steadview Cap and the team was led by Partners Sundeep Dudeja and Vaibhav Kakkar. ARA Law advised Malabar Funds and the team was led by Rajesh Begur and Avik Karmakar.

US-based software firm Ebix Inc. has acquired a majority stake in payments services firm ItzCash for Rs. 800 crore (approximately $124 million) from Essel Group and other shareholders. The transaction also provided an exit to ItzCash’s existing venture capital shareholders Matrix Partners, Intel Capital and Lightspeed Venture Partners. J. Sagar Associates advised Ebix with a team led by Partner Sujoy Bhatia along with Principal Associate Zain Pandit and Associate Adhiraj Gupta.

PepsiCo India and Sachin Tendulkar have entered into a long term arrangement to expand PepsiCo’s health and nutrition space. J. Sagar Associates advised PepsiCo with a team led by Partners – Nitesh Bhasin and Kartik Jain; and Associate – Ayushi Pandey. AZB & Partners advised Sachin Tendulkar on this arrangement and the team was led by Partner Roxanne Anderson. The first product under this arrangement ‘Quaker Oats + Milk . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One year access […]

Voltas Limited, a Tata Enterprise, and Turkey’s Ardutch B.V. (a subsidiary of Arçelik A.S), have agreed to establish a Joint Venture Company with equity capital of USD 100 million, to enter the consumer durables market in the country. Talwar Thakore & Associates represented Voltas, and the team was led by Partner Feroz Dubash along with Managing Associate Nekzad Dhunjibhoy and Associate Gayatri Chadha. Trilegal advised Arcelik. The Trilegal team was led . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access to previous interviews, columns and articles One […]

Logistics startup Delhivery Pvt. Ltd has raised Rs 200 crore ($30 million) from China’s Fosun International as part of a larger funding around, reported VCCircle. Fosun’s investment was part of a round that saw Delhivery raising Rs. 655 crore ($100 million) from private equity firm Carlyle Group and existing investor Tiger Global in February. Khaitan & Co