AZB & 2 x SAM close $121m Warburg stake buy in PVR

Wednesday, 1 February 2017 By Legally India Corporate M&A

“Private equity (PE) firm Warburg Pincus said in a statement that it has bought a 14% stake in PVR Ltd, India�s largest multiplex chain, for Rs820 crore through an open market transaction.

“Warburg Pincus bought the stake from existing investor Multiples Alternate Asset Management, which sold a 9% stake, and the promoters of PVR, including chairman and managing director Ajay Bijli. The sale values the company at around Rs5,860 crore,” reported Mint.

AZB & Partners acted for the seller Multiples Alternate Asset Management Pvt Ltd, led by senior partner Ashwath Rau, and partner Dhruv Singhal, according to AZB’s press release. Multiples Alternate Assets sold a 9% stake.

Shardul Amarchand Mangaldas Delhi partner Akila Agrawal led for PVR’s promoters, including chairman and managing director Ajay Bijli, who sold a 5% stake.

Shardul Amarchand managing partner Akshay Chudasama led for the buyer Warburg.

PVR did not use external counsel in this deal.

AZB & PartnersShardul Amarchand Mangaldas

Comments

grammar 1 Feb 2017, 12:23
+1 -0
The article needs a proof read.
kianganz 1 Feb 2017, 14:02
+0 -0
Thanks, now proof-read. A script went a bit haywire and messed around with the order of words :)
Guest 1 Feb 2017, 23:57
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Sire, please tell us whether any of the NLUs are envisaged under this scheme: http://www.deccanchronicle.com/nation/current-affairs/310117/eminent-education-bodies-on-anvil.html

In the budget Jaitley repeated this but did not mention NLUs specifically.
Warburg 3 Feb 2017, 04:39
+0 -0
Who did Warburg retain? Or was it that even they did not use external counsel in this deal?
Commenting is closed for this article.