AZB & Partners has advised Accenture on the 100 percent acquisition by Avanade UK Holdings of Farah TopCo, including its Indian arm, Altius Data Solutions. Partner Vaidhyanadhan Iyer led the firm’s team in the transaction, which was completed on March 6, 2020.
AZB & Partners is also advising Cricket Bidco, a company owned and controlled by Exponent Private Equity, on its purchase of 100 percent of the share capital of Narottam Holdings, including the indirect acquisition of its Indian subsidiary, Eat Real Snacks. Partner Vaidhyanadhan Iyer is also leading the firm’s team in the transaction, which was signed on March 13, 2020 and is yet to be completed.
Clifford Chance has advised United Overseas Bank, UOB Kay Hian, UBS Singapore Branch, Credit Suisse (Singapore) and The Hongkong and Shanghai Banking Corporation Singapore Branch on the IPO of units in United Hampshire US Real Estate Investment Trust (Reit) to raise approximately US$394.6 million. United Hampshire US Reit is Asia’s first Reit with grocery-anchored and necessity-based retail properties and self-storage assets located in the US. Partner Raymond Tong led the firm’s team in the transaction.
Davis Polk has advised the underwriters on an SEC-registered offering by Baidu of its US$600 million 3.075 percent notes due 2025 and US$400 million 3.425 percent notes due 2030. Nasdaq-listed Baidu is a leading search engine, knowledge and information-centreed internet platform and AI company. Partners James Lin and Gerhard Radtke led the firm’s team in the transaction.
Khaitan & Co has advised Bertelsmann Nederland on the series D round of investment in Rupeek Fintech. The Series D round, comprising the issue of 4,016 compulsory convertible preference shares (CCPS), was led by GGV VII Investments, with BTB Ventures and KB Global Platform Fund also participating in the fund raise. An existing investor in the target, Bertelsmann Nederland subscribed to 1,0Series 74 D CCPS. Partner Mayank Singh led the firm’s team in the transaction, which was valued at approximately Rs2.14 billion (US$28m) and was completed on March 18, 2020. Rajaram Legal represented Rupeek Fintech, while Cooley represented GGV VII Investments.
Khaitan & Co has also advised Vedanta (formerly Sesa Sterlite) on the US$38.3 million distressed acquisition, through the corporate insolvency resolution process, of Ferro Alloys. Vedanta is a globally diversified natural resources company, with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil and gas. Ferro Alloys is a producer of ferro alloys, and owns a ferro chrome plant with a capacity of 72,000 TPA. Its subsidiary FACOR Power owns and operates a 100 MW of captive power plant. The acquisition will complement Vedanta’s existing steel business, as the vertical integration of ferro manufacturing capabilities has the potential to generate significant efficiencies and synergies. Partners Mehul Shah and Shruti Singh, supported by executive director Sudhir Bassi and partner Shivanshu Thaplyal, led the firm’s team in the transaction.
L&L Partners has advised PA Media Group on its acquisition of Alamy UK, together with its subsidiaries in India, the US and Australia. Alamy is the world’s most diverse stock photo library, with close to 200 million creative and editorial stock photos, vectors, 360-degree images and videos. PA Media Group has a diverse portfolio of specialist media companies spanning news and information, data, technology, marketing and communications. The flagship brand, PA Media, is the national news agency for the UK and Ireland. The acquisition sees the PA Media Group enter the stock imagery market for the first time. It also supports its long-term strategy to diversify its business and consolidate its position, as the UK’s leading provider of cross-platform news, sports and entertainment data, content and services. Partner Damini Bhalla, supported by partner Lokesh Shah, led the firm’s team in the transaction. Taylor Wessing acted as global counsel for PA Media.
Rajah & Tann Singapore, member firm of Rajah & Tann Asia, is advising Leader Environmental Technologies on its S$1.8 million (US$1.3m) placement of new shares. Partners Danny Lim and Cynthia Wu led the firm’s team in the transaction.
Rajah & Tann Singapore, member firm of Rajah & Tann Asia, is also advising circuit board manufacturer Elec & Eltek International Holdings on the US$435.6 million privatisation of Elec & Eltek International Company, via voluntary conditional cash offer for the shares of the company, based on the offer price of US$2.33 per share. Partners Danny Lim and Penelope Loh led the firm’s team in the transaction.
Shardul Amarchand Mangaldas & Co has advised Marubeni on the acquisition of 100 percent of the debenture capital of Atmosphere Realty, a part of the Wadhwa Group. Partner Roopal Kulsrestha, supported by partners Veena Sivaramakrishnan and Ashoo Gupta, led the firm’s team in the transaction. Atmosphere Realty and its promoters were advised by Wadia Ghandy and Co.
Shardul Amarchand Mangaldas & Co has also advised Pepperfry and its founders on the US$40 million Series F fund raise, led by Pidilite Industries, the makers of popular homegrown adhesive brand Fevicol. Existing investors, including Goldman Sachs, Norwest Venture Partners, Bertelsmann and General Electric Pension, also participated in the fund raise. The firm also advised Norwest Venture Partners on its follow-on Series F investment in Pepperfry. Partners Nikhil Sachdeva and Aayush Kapoor led the firm’s team in the transaction. Khaitan and Co advised Pidilite Industries, while S&R Associates advised Bertelsmann. Schulte Roth & Zabel advised General Electric Pension, while Nishith Desai Associates advised Goldman Sachs. Walkers Global also advised on the transaction.
