The Boards of Directors of Larsen & Toubro Infotech and Mindtree have approved a composite scheme of amalgamation of both these independently listed IT services companies under the Larsen & Toubro Group.
J. Sagar Associates advised Mindtree Limited on the deal.
The team was led by Aarthi Sivanandh (Lead Partner) and Niruphama Ramakrishnan (Partner) assisted by Bhargavi Ravi (Senior Associate), Niruphama Ramakrishnan (Partner), Bhavini Mohan (Associate) and Pranav Gupta (Associate).
Cyril Amarchand Mangaldas acted as the legal advisors to L&T Infotech.
The proposed integration will see them join strengths to create an efficient and scaled up IT services provider exceeding a valuation of $22 billion.
The transaction is subject to shareholder and regulatory approvals. The name of the combined entity will be “LTIMindtree” leveraging the advantages of both the brands and creating value for all the stakeholders.