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Jio Platforms and Google have executed binding agreements for an investment of USD 4.5 billion (₹ 33,737 crore) by Google into Jio Platforms.
Google’s investment will translate into a 7.73% equity stake in Jio Platforms on a fully diluted basis.
Three days back, Qualcomm had invested ₹ 730 crore in Jio Platforms.
J. Sagar Associates (JSA) acted for Google and the team was led by Partner Probir Roy Chowdhury along with Senior Associate Yajas Setlur and Associate Kavya Katherine Thayil.
Freshfields Bruckhaus Deringer US LLP advised Google and the team was led by Partner Ethan Klingsberg, along with Counsel Andrea Basham and Associate Vinita Sithapathy.
AZB & Partners acted for Jio Platforms and the team was led by Partners Ashwath Rau and Nilanjana Singh along with Sidhant Chandalia, Amitabh Robin Singh, Kanika Mishra, Vyjayanthi Raghu and Chitrangda Singh.
Partner Bharat Budholia along with Gaurav Bansal and Ravi Gangal advised on competition law aspect.
Davis Polk & Wardwell acted as international legal counsel for Jio Platforms on this deal.