Singapore-based investor Ascendas-Singbridge Group has agreed to buy two upcoming office buildings totaling 1.4 million sq. ft in Navi Mumbai’s Aurum Platz IT Park for around Rs. 930 crore. Ascendas India Trust has entered into a so-called forward purchase agreement with Navi Mumbai-based builder Aurum Ventures to buy the two assets, reported Mint. Khaitan & Co advised Ascendas and the team was led by Partner Abhishek Sinha along with Principal Associate  Tanushree Bhuwalka, Senior Associate Nidhi Modani and Associates Aman Dwivedi, Nishant Prasad and Shailesh Singh. Indirect tax aspects: Executive Director Dinesh Agarwal, Senior Associate Mayank Jain, and Associate Parin Masalia. […]

Kishore Biyani-promoted Future Retail has bought Foodworld, a supermarket chain for Rs 40.79 crore in cash. Foodworld (previously known as Spencer’s Daily) is a chain of supermarket stores and it currently operates around 40 retail stores in Bangalore. The acquisition would result in further consolidation of the retail business of Future Retail. Desai & Diwanji advised Future Retail and the team included Partner Siddharth Mody, Senior Associate Rahul Deodhar and Associates Prerana Chaudhari, Pritali Patil, Suhani Sharma and Varun Ohri. Trilegal acted for Foodworld and the team was led by Partner Delano Furtado along with Senior Associate Sunayana Bose and Associate Tanya Nanda. 

Singapore state investment arm Temasek is picking up a stake of around 4.8% in AU Small Finance Bank Ltd. Temasek will invest Rs 1,000 crore ($147 million) in the small finance bank through a preferential allotment of shares and convertible warrants, reported VCCircle. Khaitan & Co acted for Temasek and the team was led by 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 […]

The Competition Commission of India has today given its approval to the acquisition of Monsanto by Bayer AG, subject to compliance of certain modifications. The agreement relating to the transaction was entered into on September 14, 2016. Post the due approvals, Monsanto shall become a subsidiary of Bayer. Shardul Amarchand Mangaldas and Luthra & Luthra provided strategic advice to Monsanto and Bayer respectively and filed the Form II notification (long form notification) with the CCI.

Brenntag (Holding) B.V., Netherlands has acquired a majority shareholding in Raj Petro, to expand and diversify its presence in India. Raj Petro is Asia’s largest and world’s top 10 petroleum jelly manufacturer with facilities in Mumbai and Chennai. J. Sagar Associates acted for Brenntag. The JSA team comprised of M&A Partners Sandeep Mehta and Srabonee Roy, Senior Associate – Aarti Iyer and Associates . . . 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 […]

UltraTech Cement Ltd, part of the Aditya Birla group, is acquiring the cement business of BK Birla group’s Century Textiles and Industries Ltd in an all-stock transaction. Khaitan & Co acted for Ultratech and the team was led by Senior Partner Haigreve Khaitan along with Partner Mehul Shah, Principal Associate Saswat Subasit, Senior Associate Sanket Shah and Associate D. Preethika with assistance from Senior Associates Ritwik Kulkarni and Aman Yagnik on scheme related aspects and Associate Partner . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access […]

Mahindra group firm EPC Industries has formed a joint venture with Israeli greenhouse company, Top Greenhouses, to work in protected cultivation industry and provide specialised and relevant technologies to the Indian market. EPC will hold 60 percent stake in the JV with the rest 40 percent by Top Greenhouses, Mahindra & Mahindra said in a BSE filing. PSL Advocates & Solicitors acted for Top Greenhouse in this deal with a team led by Founder & Managing . . . 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 […]

B9 Beverages Pvt. Ltd, which makes craft beer under the brand Bira 91, has raised Rs. 335 crore (around $50 million) in a round of funding led by Belgium-based investment firm Sofina, reported VCCircle. The existing investor Sequoia Capital had also participated in the round. Khaitan & Co acted for Bira91 and the team was led by Partner Mayank Singh along with Principal Associate Nidhi Killawala, and Associate Maitreye Parashar.

Impact venture fund Omnivore has made its second investment in agri-food sensing solutions startup AgNext Technologies. Desai & Diwanji acted on behalf of Omnivore and its promoters. The team consisted of Partner Siddharth Mody along with Associates Prerana Chaudhari and Althea Pereira.   Kochhar & Co. acted on behalf of AgNext Technologies and the team was led by Partner Arvind Gurumurthy.

Fortis Healthcare’s board picked the acquisition offer made jointly by Sunil Kant Munjal of Hero Enterprise and the Burman family. The Munjal-Burman consortium outbid TPG-backed Manipal Hospitals, IHH Healthcare, and Radiant Life Care-KKR. Cyril Amarchand Mangaldas has been advising Fortis Healthcare and the team is led by Managing Partner Cyril Shroff along with Partners Ruetveij Pandya and Nivedita Rao. Veritas Legal and JM Financial are advising . . . 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 […]

Global retail giant Walmart is buying 77% stake in Flipkart for $16 billion. The deal will probably be the biggest in the e-commerce space. The remainder of the business will be held by some of Flipkart’s existing shareholders, including Flipkart co-founder Binny Bansal, Tencent Holdings Limited, Tiger Global Management LLC and Microsoft Corp. Shardul Amarchand Mangaldas and Hogan Lovells acted for Walmart. The SAM team was . . . 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 […]

Blackrock has mutually agreed with the DSP Group to terminate their joint venture relationship in the mutual fund, asset management, and AIF business and to sell its minority stake therein back to DSP group entities and DSP group founders. Currently, DSP Group owns 60 percent stake in the joint venture, whereas BlackRock Inc. has a 40 percent holding in the firm, reported

Schneider and Temasek invest 14,000 crores to buy L&T’s low voltage switchgear business in furtherance of Make in India project. Schneider will own 65% of the unit after purchase, while Temasek will control 35% of the company. AZB & Partners advised Schneider and Temasek on their acquisition (through Schneider India) of the electrical and automation assets of L&T both in India and overseas. AZB also . . . 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 […]

Indian Law Partners (ILP) and Ashurst London office advised BAFTA and Oscar awarding winning Creative Studio – Framestore, UK on its joint venture with Anibrain Digital Technologies Pvt Ltd. ILP team was led by Partners Gopika Pant and Kanika Premnarayen, along with Counsel Vineet Gupta, Senior Associate Abhimanyu Kaul and Associates Pranay Kapoor, Abhishek Kumar and Ira Swain and Ashurst London Partner David Carter and Solicitor Jack . . . 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 […]

Virtuous Retail South Asia Pte. Ltd, a joint venture between The Xander Group and Dutch pension fund APG, has purchased a stake in North Delhi Metro Mall that will develop a premium retail facility in the heart of the national capital. In the first round of funding, Virtuous has invested about Rs 350 crore while the total investment would go up to Rs 800 crore, reported

Bharti Infratel is merging its operations with Indus Towers that has Vodafone and Idea Cellular as stakeholders to create a $14.6 billion company which will be one of the largest mobile tower entities worldwide with 1.63 lakh towers. Indus Towers is currently jointly owned by Bharti Infratel (42%), Vodafone (42%), Aditya Birla’s Idea group (11.15%) and Providence (4.85%), reported

Germany’s NORMA Group SE, which manufactures machine joining components, is acquiring Indian water management firm Kimplas Piping Systems Ltd for an undisclosed amount. AZB & Partners acted for NORMA Group and the team was led by Partner Srinath Dasari along with Senior Associate Malaveeka Chakravarthy and Associate Aparajita Lath. Khaitan & Co acted for Kimplas Piping Systems and the team was led by Partner Nikhilesh Panchal along with Principal Associate Malav Shah . . . 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 […]

ChrysCapital Advisors has acquired a significant minority stake in Thirumeni Finance Pvt. Ltd, a Bengaluru-based non-banking financial company (NBFC) that operates under the name Varthana. Varthana has raised Rs. 350 crore through a combination of a primary raise and secondary stake sales by investors lead by ChrysCapital, along with existing investors, reported Mint. Existing investors of Varthana include . . . 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 […]

TR Capital has picked up an additional stake in Lenskart Solutions from existing shareholders of the company – Unilazer Alternative Ventures  and TPG Growth. Argus Partners advised TR Capital and the team was led by Senior Partner Siddharth Raja along with Associate Ankita Gupta. Rajaram Legal acted for Lenskart Solutions and Unilazer Alternative Ventures and the team was led by Partner Archana Rajaram along with Associate Aakanksha Pagnis. Veritas Legal Partner Kunal Doshi advised TPG Growth. After deal completion, TR Capital will hold over 10 per cent stake in Lenskart. TR Capital had first invested in Lenskart in 2013.

Japan Bank for International Cooperation has invested in TechnoTrends AutoPark (TTAP), an Indian company owned by Toyota Tsusho. Indian Law Partners (ILP) and Ashurst advised the Japan Bank for International Cooperation. The ILP team was led by Partner Gopika Pant, Counsel Vineet Gupta and Associates Nishant Kulhari and Abhishek Kumar. Ashurst team was led by Tokyo Partner Kensuke Inoue, Counsel Arabella Dove and Associate Huw Watkins. J. Sagar . . . 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 […]

Homegrown ridehailing app Ola has acquired Mumbai-based Ridlr, an end-to-end public transport ticketing and commuting app. J. Sagar Associates acted for Ola Cabs, with a team led by Partners Vivek K Chandy and Archana Tewary along with Senior Associate Sindhu Nayak and Associate Astha Srivastava. Rajaram Legal represented Ridlr and the team was led led by Partner Archana Rajaram along with Senior Associate Prasad Subramanyan and Aakanksha Pagnis . . . 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 […]

Reliance Industries is picking up 73% stake in education technology provider Embibe and will invest up to $180 million (Rs. 1,175 crore) million over the next three years. AZB & Partners acted for Reliance Industries and the team was led by Partners Ashwath Rau, Nilanjana Singh and Anu Tiwari along with Nirmal Mahtani, Utkarsh Bhatnagar and Rachana Rautray. Shardul Amarchand Mangaldas advised Embibe and its promoter with  team . . . 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 […]

Paytm Mall has raised close to Rs. 29 billion ($445 million) from SoftBank Investment Holdings and Alibaba Singapore. The deal, which has been executed through a private placement offer, values Paytm Mall at over $2 billion, reported Business Standard. Shardul Amarchand Mangaldas advised Paytm with a team 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 year access to all archival material Access to all Bar & Bench reports Register Already a subscriber ? Login

Centrum Group is selling its money exchange business, Centrum Direct, to US-based Ebix Inc for about Rs. 1,200 crore ($184.6 million). Crawford Bayley acted for Centrum and the team was led by Partners Sanjay Asher and Bhumika Batra along with Sachita Shetty, Sanskriti Relekar, Anuja Takle. IndusLaw advised Ebix and the team was led by Partner Saurav Kumar along with Principal Associate Divya Varghese and Associates Devya Sharma and Suvarna Swain. The entire Centrum Direct team and assets will . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One […]

Rail Vikas Nigam Limited, a project-executing agency of the Ministry of Railways, has filed its draft red herring prospectus for its Initial Public Offer (IPO) with the SEBI on March 27. The value of the IPO is estimated to be upto Rs.630 crores, which will be undertaken by the government selling approximately 208.5 million of its shares in the company to the public. The underwriters to the IPO are Yes Securities India, Elara Capital Indi

The Indian unit of Finnish packaging company Huhtamaki PPL will acquire Ajanta Packaging (India) for Rs 100.3 crore ($15.5 million) in an all-cash deal. Veritas Legal acted for HPPL and the team was led by Partner Tushar Raut along with Somrita Chatterji and Anish Patel. PDS Legal acted for Ajanta Packaging and the team was led by Partners Vihang Virkar and Monika Deshmukh along with Dheeraj . . . 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 […]

Asia-focused private equity fund ADV Partners has invested Rs. 685 crore in Feedback Infra, which provides advisory services to the infrastructure and also manages operations and maintenance for power projects and roads. Cyril Amarchand Mangaldas acted for ADV Partners and the team was led by Partner Yashojit Mitra. Khaitan & Co acted for Feedback Infra and the team was led by Partners Kartick Maheshwari and Manisha Shroff along with Principal Associate Madhuparna Dasgupta, Senior Associate Rolwine . . . Facebook Comment To read the entire article, get a premium account With a premium account you get: One year of unrestrcited access […]

Blackstone Group is buying 50% stake in two subsidiaries of developer Indiabulls Real Estate at an enterprise value of Rs 9,500 crore (around $1.46 billion), making it one of the biggest private equity deals in Indian real estate. J. Sagar Associates acted for Indiabulls and the team was led by Partners Lalit Kumar and Namita Bahri along with Principal Associate Bharat Bhushan Sharma and Associate Amandeep Singh Virk. The due diligence team included Principal Associate Bharati Joshi and Associate Tanisha Bhatia. The competition law aspects were advised by . . . Facebook Comment To read the entire article, get a […]

The board of Fortis Healthcare has announced the sale of its hospital assets to Manipal Health Enterprises and buyout firm TPG Capital. The board has also approved the sale of its 20% stake in SRL Diagnostics to Manipal Hospitals. As part of the proposed transaction, Manipal promoter Dr Ranjan Pai and TPG Capital will invest Rs. 3,900 crore into Manipal Hospitals. Cyril Amarchand Mangaldas is advising Fortis Healthcare 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 […]

Virtusa Corporation, a global provider of digital engineering and IT outsourcing services, has acquired eTouch Systems Corp., a Delaware corporation and eTouch Systems (India) Private Limited, an Indian company, as two separate transactions. P&A Law Offices acted as counsel for eTouch and its promoters in both the India and US transactions. The team from P&A Law Offices included Managing Partner Anand S. Pathak, Principal Associate Shashank Gautam, Senior Associate Aditya Singha, and 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 […]