Amarchand, AZB on Infosys founders’ $1.1bn block share sale

Breaking
Monday, 8 December 2014 By Legally India Corporate M&A

Amarchand Mangaldas advised Infosys founders NR Narayana Murthy, SD Shibulal, Nandan Nilekani and K Dinesh alongside family members Kumari Shibulal, Deeksha Dinesh, Asha Dinesh, Akshata Murthy, Sudha Murthy, Rohini Nilekani and Divya Dinesh, who together have sold around 32.6 million Infosys shares worth around $1.1 billion through a block deal in the open market.

Amarchand Mumbai managing partner Cyril Shroff and capital markets partner Yash Ashar acted for the founders and family.

AZB & Partners Mumbai partner Varoon Chandra acted for Deutsche Bank, which was the broker to the deal.

The sale follows the appointment of a non-founder and first outsider, Vishal Sikka, as Infosys’ Chief Executive Officer a few months ago, reported The Hindu, adding that reports of the sale pulled the company’s share price down 4.65 per cent on BSE this morning.

Amarchand MangaldasAZB & Partners

Comments

Plato 9 Dec 2014, 20:04
+1 -0
Kian, you should ensure that these firms provide at least some associate credit when they release deal information to you. Partners are only a part of the equation. This practice of obscuring associate credit is deplorable and reeks of insecurity.
green lantern 12 Dec 2014, 12:44
+0 -0
Or they should just cite the managing partners name. Press releases suppressing associate names should be boycotted-)
Curious Cat 12 Dec 2014, 15:00
+0 -0
Strongly agree with the 2 comments above. You should have a standard sentence at the bottom of such articles to the effect that, " XYZ law firm is too cheap to give credit to the associates who worked on the deal (and likely did the most work on it) and would have us believe that the partners accomplished everything on their own."

It's strong. It's harsh. Hopefully it will shame some firms into behaving themselves.
kianganz 12 Dec 2014, 15:15
+0 -0
Guys, when we publish a deal that's not based on a press release, such as when it's breaking, the firm or sources often don't tell is every associate and we just get the lead partner.

Generally we don't ask for more at that point but if it's a press release then often the associates are mentioned...
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