Khaitan Bgl, Olswang scoop giant $450m Snapdeal e-com buy of Freecharge with AZB Delhi

Thursday, 9 April 2015 By Legally India Corporate M&A

Khaitan & Company advised Snapdeal on India’s biggest acquisition in the e-commerce space yet – the $450m (Rs 2,800 crore) buy of mobile commerce platform Freecharge which was advised by AZB & Partners, reported Bar & Bench.

Khaitan Bangalore Partner Abhilekh Verma acted for Snapdeal, with Olswang Singapore, led by Olswang India desk head Azmul Haque.

AZB Delhi partner Gautam Saha, senior associate Dushyant Bagga and associate Devanshu Sajlan acted for Freecharge’s selling shareholders led by Sequoia Capital, with Eversheds Singapore.

Update: Bar & Bench has updated its original story, adding that Themis Associates partner Chetan Nagendra also acted for Freecharge.

IndusLaw has been Snapdeal’s go-to adviser on the fundraising side, having most recently acted on the $627 round by Softbank.

SoftBank, which invested $627m in Snapdeal year, is its largest investor. Snapdeal has raised $1.1bn so far, reported Yourstory.

Khaitan & CoAZB & Partners

Comments

geniousjeet2000 9 Apr 2015, 10:52
+5 -4
Way to go Devanshu Sajlan. Brilliant lawyer in making.
well wisher 9 Apr 2015, 10:58
+8 -6
Way to go Abhilekh! Have worked with him on a previous transaction - excellent commercial acumen and sound legal knowledge. Congrats and all the best.
abc 9 Apr 2015, 11:03
+2 -2
wow.
Guest 9 Apr 2015, 11:31
+4 -1
Kian, definitely loosing to B&B on reporting and that to not the right one.
kianganz 9 Apr 2015, 11:34
+6 -1
Who's 'the right one'?

Like I said, win some lose some, and you can't get all the stories - these are busy days with a lot of stuff on the plate of a 2 person team...

But I'm pretty certain that in the last week or so (and in pretty much any week), we're way up in terms of scoops, so am not too worried. :)
Guest 9 Apr 2015, 11:59
+1 -0
'the right one' -looks like B&B article listed more firms on the deal.
kianganz 9 Apr 2015, 12:02
+0 -0
Aah, that's what's meant. Not originally, they've since updated their article secretly and added Themis and Eversheds ;)
Anonymous 9 Apr 2015, 12:45
+1 -0
But surely they haven't mentioned Indus on the article, which you definitely won't miss.:)
kianganz 9 Apr 2015, 12:47
+3 -0
Indus is quite interesting on this actually - I believe they have been trying quite hard to pick up more mainstream corporate work to ensure that when big clients such as this one do M&A, they can do it themselves.

However, Khaitan appears to have managed to scoop them to it on this one, not sure why.

Or maybe Indus is busy on Snapdeal's 45th fundraising round? :)
International Lawyer 9 Apr 2015, 12:31
+0 -1
Nice to see Singapore offices of international firms on a large Indian cross-border deal! What does this portend for legal market opening up?
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