Deal Street

August 29, 2016

CAM advises Snapdeal for GoJavas sale


According to sources,"Courier service provider Pigeon Express Pvt. Ltd is in advanced talks to acquire e-commerce focused logistics service provider GoJavas (Quickdel Logistics Pvt. Ltd), which suspended operations last week amid an organisational overhaul, in a cash and stock deal, said two people aware of the development."

Cyril Amarchand Mangaldas (CAM) advised Snapdeal on the amended shareholders agreement, its investor protection rights, corporate governance strategy and the creation of a pledge on a limited portion of the acquirer’s stake in Go Javas in favour of Snapdeal.

The team was headed by Mumbai corporate and private clients partner Rishabh Shroff and New Delhi based corporate partner Harsh Kumar, with Delhi dispute resolution partner Gauri Rasgotra assisting Snapdeal on its litigation strategy vis-a-vis the transaction documents.

Since March 2015, about Rs 237 crore in GoJavas was invested by Snapdeal and will remain a minority shareholder in the logistics firm.

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