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The Competition Commission of India has today given its approval to the acquisition of a 9.99% stake in Jio Platforms by Jaadhu Holdings LLC (Facebook).
In April, US social media major Facebook has invested Rs. 43,574 crore (USD 5.7 billion) into Jio Platforms, a unit of Reliance Industries for a 9.99% stake.
Shardul Amarchand Mangaldas acted for Facebook and filed the CCI filing and received the CCI approval for this investment.
The Shardul Amarchand Mangaldas team was led by Partner Naval Chopra and Yaman Verma.
AZB & Partners Partner Bharat Budholia advised Jio Platforms on the competition aspect.
Facebook was first to invest in Jio Platforms. After Facebook, there were nine more investors - Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, Public Investment Fund.
Shardul Amarchand Mangaldas and Hogan Lovells advised Facebook on this deal.
SAM team was led by Partners Raghubir Menon, Sakshi Mehra and Natashaa Shroff along with Principal Associate Deep Rekha and Senior Associate Srishti Maheshwari.
AZB & Partners and Davis Polk & Wardwell advised Reliance Industries.
AZB team was lead by Partners Ashwath Rau and Nilanjana Singh
Here is a summary of the transaction uploaded on the CCI website.