L&L, FF help Carlyle get $235m, 25% stake in Bharti data centres (rep’d entirely in-house)

Wednesday, 15 July 2020 By Legally India Corporate M&A

Carlyle will buy a 25% stake in Indian telecom firm Bharti Airtel Ltd’s data center arm for $235 million, the U.S. private equity group said on Wednesday, as it taps into the rapid growth of digital services in India. The acquisition, by an affiliate of Carlyle, will give Airtel’s Nxtra Data Ltd an enterprise valuation of about $1.2 billion, the companies said in a statement. Airtel will hold the remaining 75% stake in Nxtra. — Reuters

L&L Partners advised Carlyle led by a team of senior partner Mohit Saraf and partners Sundeep Dudeja, Vaibhav Kakkar and Samarth Gupta and senior associate Sahil Arora and associates Debarpan Ghosh and Keshav Pareek.

Freshfields Bruckhaus Deringer acted for Carlyle.

Bharti Airtel handled the deal for the company entirely in-house led by Samir Chugh (GC) and a team including DGM Sumi Saikia.

2020-07-01

Deal value: $235m

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L&L PartnersFreshfields Bruckhaus Deringerin-houseSamir Chugh (GC)in-house counsel

Comments

Flat line 16 Jul 2020, 12:49
+1 -6
4 corporate partners on a 200 million USD deal ?!? Wow.
4 baj gaye 16 Jul 2020, 14:38
Troll Contested
+1 -12
If you read the Firm release carefully, L&L only 'advised' Carlyle, while Freshfields 'acted for' Carlyle. Interpret that as you may. Anyway, everybody knows which partner at L&L would have done the actual heavy work.
Erm 16 Jul 2020, 19:55
+13 -2
Huh? What nonsense.

Do tell the difference between advise & act in a deal like this.

Law firms always advise. The actual on-ground deal would also be in India, done through Indian counsels (not Freshfields).
GIF 17 Jul 2020, 04:05
+13 -2
Staffing 4 partners on a deal is better than being accused of partners not giving enough attention to the deal. As long as the client is happy and ready to foot the bill, don’t see why it should get you excited.

as an aside, surprised to see FF not tying up with Platinum on this one. Is that not an exclusive best friends relationship?
Lath Gaad Du 17 Jul 2020, 06:23
+11 -1
Look at the deal disclosures Immediately preceding this:

Trilegal staffed 3 partners (excluding competition), 2 counsels, 1 principal consultant and 2 senior associates on a USD 100 million deal: https://www.legallyindia.com/private-equity-venture-capital/trilegal-acts-for-2nd-chipmaker-qualcomm-on-100m-jio-round-with-azb-etc-20200715-11564#comments

Notice something? This deal is less than half the size of this deal and yet you have 3 or more partners staffed on it. Does it make Trilegal any lesser of a Firm? Absolutely not!!!

This is the market reality - every Partner involved brings something valuable to the deal - else, the client wouldn’t be stupid to be happy with all of this.

Now, stuff your tail between your legs and run along.
Flat Curve 16 Jul 2020, 14:14
+5 -2
Fully in-house on a 200 million USD deal?!? Wow.
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