Corporate M&A

JSA for acquisitive TVS in $46m funding, as AZB Delhi, Mumbai score dual roles for KKR, GS

J Sagar Associates advised TVS Logistics Services, opposite AZB & Partners’ Mumbai and Delhi offices that respectively advised Kohlberg Kravis Roberts (KKR) on its first round of funding and Goldman Sachs on its second investment into the Indian logistics company that has plans to aggressively expand abroad.

AZB, Wadia G, Kirkland, HogLove delist iGate’s Patni for $271m from BSE, NSE, NYSE

Bombay Stock Exchange
Bombay Stock Exchange
AZB & Partners advised Nasdaq-listed information technology services company iGate Corp in its Rs 1,400 crore ($271m) voluntary delisting of its Mumbai-based unit Patni computer systems, which was jointly advised by Wadia Ghandy and international law firm Hogan Lovells.

Amarchand, Luthra dethrone AZB in Q1 2012 M&A league table, powered by Sterlite restructure

M&A league table
M&A league table
Amarchand Mangaldas and Luthra & Luthra have each racked up over $10bn worth of deals to top the M&A Indian mergermarket league table for the first quarter of 2012, displacing 2011 first quarter (Q1) frontrunner AZB & Partners.

Amarchand, AZB, Platinum score roles on $530m Mitsui Japan-India buy

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Amarchand Mangaldas’ Bangalore office advised Japan’s largest non-life insurer Mitsui Sumitomo in its Rs 2,731 crore ($530m) purchase of 26 per cent in the joint venture (JV) of Indian insurer Max India and US insurer New York Life Insurance, which were respectively advised by AZB & Partners and Paul Weiss, and Platinum Partners and Freshfields Bruckhaus Deringer.

Agarwal Jetley & Co lifts Indo-Japanese heavy equipment JV

Agarwal Jetley & Co advised Japanese manufacturing and engineering corporation Hitachi Zosen in the formation of a Rs 110 Crore ($22m) joint venture (JV) with Indian diversified engineering company ISGEC Heavy Engineering which was advised in-house. Agarwal Jetley & Co managing partner Pra...

Khaitan continues Japanese streak with Nippon as Amarchand powers largest FDI in Indian mutual fund sector

Khaitan & Co and Japanese law firm Anderson Mori & Tomotsune, Tokyo advised Asian private insurance leader Nippon Life Insurance on the largest ever Indian mutual fund investment. Nippon purchased a Rs 1450 crore ($290m) 26 per cent stake in Indian asset management leader Reliance Capital ...

Amarchand helps Davis Polk on Indian leg of $449m NEC telecoms deal

Akila Agrawal
Akila Agrawal
Amarchand Mangaldas scored a first-time mandate for Japanese conglomerate NEC Corporation in assisting Davis Polk & Wardwell in its $449m (Rs 2280 crore) acquisition of US telecoms company Convergys Corporation’s information management (IM) business.

Khaitan powers Indo-Japan courier JV

Khaitan & Co partners Rajat Mukherjee, Daksha Baxi and Manas Kumar Chaudhari advised Japanese airfreight forwarding and logistics company Kintetsu World Express (KWE) in its Rs 270 crore ($54m) purchase of 30 per cent stake in a joint venture with Indian supply chain solutions provider Gati whi...

Desai & D, ELP, KhaitanCo pave $300m Piramal-IDFC-Canada road building JV

Buildin' roads!
Buildin' roads!
Desai & Diwanji advised the Ashok Piramal Group in its Rs 1250 crore to Rs 1500 crore ($250m to $300m) three-way joint venture (JV) with Canadian engineering group SNC-Lavalin, which was advised by Economic Laws Practice (ELP), and IDFC project equity’s investment fund India Infrastructure fund (IIF), which was advised by Khaitan & Co.

First reported Reliance deal for K Law in $450m Sibur JV with Linklaters

K Law and Linklaters have advised Reliance Industries on its Rs 22bn ($450m) joint venture with Russian petro company Sibur, which was advised by Khaitan & Co and Herbert Smith, as Legally India had earlier reported.

Khaitan, Herbert Smith power Sibur, Reliance rubber JV

Khaitan & Co., alongside Herbert Smith, advised Russian petrochemical giant Sibur in sale of 74.9 per cent equity for Rs 22 bn ($450 m) to Reliance Industries for setting up a joint venture (JV) Greenfield project manufacturing synthetic rubber. Reliance Industries was advised in-house.

Khaitan, Travers Smith, DLA Piper and Freshfields sell LPO CPA Global to Cinven

Khaitan & Co, alongside Travers Smith, advised legal process outsourcing (LPO) company CPA Global in its acquisition by European buyout firm Cinven which was advised by Freshfields Bruckhaus Deringer.

Amarchand Delhi bags Vedanta $14bn Sterlite-Sesa Goa restructuring with Luthra, as CCI relaxed merger control

mining
mining
Amarchand Mangaldas Delhi office has scooped the mandate to merge Vedanta’s Sterlite Industries unit with Sesa Goa to decrease the mining conglomerate’s debt.

Amarchand, Universal Legal power Numeric’s $171m UPS sale to Legrand

Uninterruptible power
Uninterruptible power
Exclusive: Amarchand Mangaldas advised French electrical and digital building infrastructure major Legrand Group in its Rs 837 crore ($171m) acquisition of Chennai-based Numeric Power Systems’ uninterruptible power supply (UPS) business, which as advised by Universal Legal.

Khaitan, Rajani advise Bahrain Batelco’s $174m Indian retreat post 2G nix

Telecoms in India: Old news, get out now?
Telecoms in India: Old news, get out now?
Khaitan & Co advised Bahrain-headquartered telecom service provider Bahrain Telecommunications Company (Batelco) in its $174m stake sale in its Indian joint venture STel to Skycity Foundation, which was advised by Rajani Associates.

DSK, Herbies sell Strides’ Rs 2000 cr SEA-Oz pharma biz to Watson

Pharma
Pharma
DSK Legal advised Bangalore-based pharmaceutical company Strides Arcolab in the sale of its 94 per cent shareholding in its Australian and Southeast Asian subsidiary Ascent Pharmahealth to US- based Watson Pharmaceuticals for A$375m (Rs 1965 crore), alongside Herbert Smith and Australian firms Freehills and Middletons.

Luthra, Amarchand brew Starbucks’ Rs 400 cr India entry with Tatas

Starbucks: Everywhere
Starbucks: Everywhere
Luthra & Luthra has advised Tata Global Beverages on its joint venture with US coffee chain giant Starbucks Corp, which drafted in Amarchand Mangaldas.

2011 M&A league table: Reliance helps AZB to top spot in small fry year ahead of TTA, S&R, Amarchand, Khaitan, JSA

Domestic M&A league table by deal values (source mergermarket, graphic: Mint)
Domestic M&A league table by deal values (source mergermarket, graphic: Mint)
“)Mint exclusive: India’s corporate law firms advised on fewer and smaller mergers and acquisitions (M&A) in the 2011 calendar year than in 2010, which affected revenues but still kept firms such as AZB & Partners, Amarchand Mangaldas, Khaitan & Co, J Sagar Associates (JSA) and Desai & Diwanji busy with a lion’s share of work.

AZB, Khaitan get nod on elaborate Rs 1,500+ cr Reliance-Network18 deal [Update: +Amarchand for banks]

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Exclusive: AZB & Partners Mumbai and Khaitan & Co’s Delhi office have scooped the mandate to advise on Reliance Industries bid to invest in two Network18 subsidiaries for more than Rs 1,500 crore ($290m).

Axon first for Sindicatum in green power JV with JSA

J Sagar Associates (JSA) advised Simbhaoli Sugars on its Rs 330 crore ($63.8m) joint venture with Singapore-based sustainable resources company Sindicatum, which was advised by Axon Partners LLP for the first time.