Valuedrive Technologies Private Limited, the parent company of Spinny has acquired the automotive titles of Haymarket SAC Publishing (India) Private Limited (a JV between Haymarket and the Sorabjee family) in a cash-and-equity deal.
AZB & Partners advised Hormazd Sorabjee and Naheed Sorabjee on this sale of Haymarket India's automotive titles to Valuedrive.
The transaction team consisted of Nandish Vyas (Partner), Karun Jhangiani (Senior Associate) and Tanay Chopra (Senior Associate).
ALMT Legal represented the Haymarket UK entities on this transaction.
The transaction team was led by Ryna Karani (Senior Partner) and Siddhi Ghatlia (Partner) and supported by Khusbu Jasani (Principal Associate), Meherdad Kavarana (Senior Associate), Palak Shah (Associate) and Natiana Godinho (Associate).
Spinny is the leading used car retailing platform in India, founded in 2015 by Niraj Singh, Ramanshu Mahaur, and Mohit Gupta.
This acquisition is in line with Spinny's ambitious growth plans in the Indian automotive sector.
This acquisition includes prominent automotive publications such as Autocar India, Autocar Professional, and What Car? India. Hormazd Sorabjee will continue to oversee these flagship titles, ensuring continuity and alignment with their established legacy. The transaction, structured as a cash and equity deal, also results in Haymarket retaining an investment in Spinny's parent company, Value Drive Technologies.
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