S&R, AZB and Amarchand act on Vodafone’s buy out of Analjit Singh’s, Piramal Enterprise’s stake (Updated)
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S&R, AZB and Amarchand act on Vodafone’s buy out of Analjit Singh’s, Piramal Enterprise’s stake (Updated)

Pallavi Saluja

Vodafone Group is buying out minority partners Analjit Singh and Piramal Enterprises in its India unit. Vodafone Group will pay Analjit Singh Rs. 1,241 crore and Piramal Enterprises Rs. 8,900 crore for their stakes in Vodafone India as part of a proposal by the British telecom major to fully own its domestic unit, reports ET.

S&R Associates is acting for Vodafone on this buy out with a team led by Partner Rajat Sethi along with Simran Dhir, Dhruv Nath and Lakshmi Pradeep.

AZB & Partners is acting for Analjit Singh and his group entities with a team led by Managing Partner Ajay Bahl along with Partner Anil Kasturi.

Amarchand Mangaldas is acting for Piramal with a team led by Managing Partner Cyril Shroff along with Partner Leena Chacko.

Vodafone has already bought Analjit Singh’s stake while the Piramal buy out is yet to be completed.

Vodafone is buying almost 11 per cent stake in the unit from India’s Piramal Enterprises, and the remainder held by investors including businessman Analjit Singh, to own a 100 per cent of Vodafone India, according to VCCircle.

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