Private equity firm Baring Private Equity Asia has acquired a 42% stake in Hexaware from the promoters of Hexaware and private equity firm, General Atlantic..This will be followed by a mandatory open offer for an additional 26%, taking the deal value to Rs. 2,745 crore ($420 million) making it one of the biggest transactions in the Indian information technology space..Khaitan & Co advised Baring with a team led by Partners Haigreve Khaitan and Ganesh Prasad..Allen & Overy acted as International legal counsel with a team led by Partner Gautam Narasimhan, who has been recently promoted as a Partner in the firm’s Singapore office..AZB & Partners advised the sellers (promoter group led by Atul Nishar and private equity firm General Atlantic), with a team led by Mumbai-based Partners Abhijit Joshi and Essaji Vahanvati..J. Sagar Associates advised the promoter group with a team led by Partners Somasekhar Sundaresan and Manisha Kumar..This is the second major Indian deal involving Baring after it invested $265 million (Rs.1,400 crore) in the India unit of the French cement maker Lafarge SA in May this year. AZB & Partners acted as the domestic legal counsel to Lafarge while Cleary Gottlieb Steen & Hamilton acted as international legal counsel to Lafarge. Wadia Ghandy acted as domestic legal counsel for Baring while Allen & Overy acted as international legal counsel to Baring.
Private equity firm Baring Private Equity Asia has acquired a 42% stake in Hexaware from the promoters of Hexaware and private equity firm, General Atlantic..This will be followed by a mandatory open offer for an additional 26%, taking the deal value to Rs. 2,745 crore ($420 million) making it one of the biggest transactions in the Indian information technology space..Khaitan & Co advised Baring with a team led by Partners Haigreve Khaitan and Ganesh Prasad..Allen & Overy acted as International legal counsel with a team led by Partner Gautam Narasimhan, who has been recently promoted as a Partner in the firm’s Singapore office..AZB & Partners advised the sellers (promoter group led by Atul Nishar and private equity firm General Atlantic), with a team led by Mumbai-based Partners Abhijit Joshi and Essaji Vahanvati..J. Sagar Associates advised the promoter group with a team led by Partners Somasekhar Sundaresan and Manisha Kumar..This is the second major Indian deal involving Baring after it invested $265 million (Rs.1,400 crore) in the India unit of the French cement maker Lafarge SA in May this year. AZB & Partners acted as the domestic legal counsel to Lafarge while Cleary Gottlieb Steen & Hamilton acted as international legal counsel to Lafarge. Wadia Ghandy acted as domestic legal counsel for Baring while Allen & Overy acted as international legal counsel to Baring.
