Top Indian firms lead in country’s largest-ever PE deal

A Canadian investor has agreed to invest US$3.7bn into a high-profile business

Top Indian firms lead in country’s largest-ever PE deal

Two leading Indian firms have acted in the largest-ever private equity deal in the country.

AZB & Partners advised Canada’s Brookfield Asset management, which is leading the consortium that has agreed to buyout Reliance Industries’ Reliance Jio Infratel unit for US$3.7bn. Cyril Amarchand Mangaldas is advising the sellers.

Reliance Jio Infratel was 51% owned by the consortium before the buyout was announced. The unit is the largest owner of telecoms towers in India, with 170,000 towers across the country.

The AZB team that advised Brookfield on the deal was headed by partners Gautam Saha and Madhurima Mukherjee.

Brookfield also invested earlier this year in another venture controlled by the billionaire Mukesh Ambani, who is Reliance’s chair. The private-equity investor bought the troubled East-West Pipeline, earlier known as Reliance Gas Transportation Infrastructure, for US$1.8bn.

AZB was also involved in that deal, which was the first instance of a private pipeline being monetised in India. The firm advised Reliance in that deal, with Shardul Amarchand Mangaldas advising Brookfield.

Recent articles & video

Maddocks pitches in on $1bn medical merger

Tonkin Drysdale Partners names criminal law team head

Seasoned IP lawyer joins up with Pearce IP

US law firm launches formal remote work program for lawyers

Allen & Overy reports significant profit increase ahead of merger with Shearman & Sterling

US judge evades disciplinary action due to senior status

Most Read Articles

Kain Lawyers scoops up ex-PwC Australia legal business head as director

Global firms bring A-game to support Orana BESS project

Federal Court declares misleading conduct in wine labelling dispute

Maurice Blackburn director to helm the Australian Lawyers Alliance as national president