Bharti Airtel has sold a five per cent stake to Qatar Foundation Endowment (QFE) for $1.26 billion (Rs. 6,796 crore)..S&R Associates advised QFE with a team led by Partners Rajat Sethi and Juhi Singh along with Mohit Gogia, Rachael Israel, Dhruv Agarwal and Ananya Bhattacharya..Bharti Airtel, which has issued 199.87 million new shares to QFE was advised by its in-house legal team..The deal will be the largest ever-private equity investment in India, topping Bain Capital’s $850 million stake buy in outsourcing major Genpact last year, according to VCCircle..Bharti Airtel termed the deal as a ‘long-term strategic investment’..The deal would further strengthen Bharti Airtel’s capital structure and improve flexibility for its growth strategy. Bharti will also gain exposure to the strong investor base in the Middle East, in addition to South-east Asia, the statement added, reports VCCircle..The deal will also be the second largest transaction in 2013 after drug-manufacturer Strides Arcolab Ltd sold its injectables unit Agila Specialties to Mylan Inc for $1.6 billion, which was advised by DSK Legal, Platinum Partners, Herbert Smith Freehills, Slaughter and May and Skadden, Arps, Slate, Meagher & Flom LLP.
Bharti Airtel has sold a five per cent stake to Qatar Foundation Endowment (QFE) for $1.26 billion (Rs. 6,796 crore)..S&R Associates advised QFE with a team led by Partners Rajat Sethi and Juhi Singh along with Mohit Gogia, Rachael Israel, Dhruv Agarwal and Ananya Bhattacharya..Bharti Airtel, which has issued 199.87 million new shares to QFE was advised by its in-house legal team..The deal will be the largest ever-private equity investment in India, topping Bain Capital’s $850 million stake buy in outsourcing major Genpact last year, according to VCCircle..Bharti Airtel termed the deal as a ‘long-term strategic investment’..The deal would further strengthen Bharti Airtel’s capital structure and improve flexibility for its growth strategy. Bharti will also gain exposure to the strong investor base in the Middle East, in addition to South-east Asia, the statement added, reports VCCircle..The deal will also be the second largest transaction in 2013 after drug-manufacturer Strides Arcolab Ltd sold its injectables unit Agila Specialties to Mylan Inc for $1.6 billion, which was advised by DSK Legal, Platinum Partners, Herbert Smith Freehills, Slaughter and May and Skadden, Arps, Slate, Meagher & Flom LLP.
