Deal Street

May 15, 2017

Shardul Amarchand Mangaldas & Co Advises NewsCorp In USD 55 mn Investment Into Proptiger.Com And The Acquisition Of Housing.Com


Shardul Amarchand Mangaldas & Co acted as the legal advisor to NewsCorp in the transaction involving acquisition by Elara Technologies Pte. Ltd. (the Singapore based parent entity operating the and portals through its Indian subsidiaries) of majority shareholding in Locon Solutions Private Limited (which operates the portal), coupled with an investment of USD 50 mn by Australia's REA Group and USD 5 mn by Softbank into Elara. are two of India’s leading online real estate service providers, and will together become India’s largest online real estate services company.

The General Corporate Practice of Shardul Amarchand Mangaldas advised on all aspects of the transaction including the structuring, negotiations, drafting and finalization of the transaction documents. The transaction team was led by Mr. Shuva Mandal, Partner, National Practice Head, General Corporate, M&A & Private Equity; and included Aayush Kapoor, Principal Associate; Sayak Maity, Principal Associate – Designate; and Vasundhara Garg, Senior Associate.

As a part of the transaction, Elara has acquired majority shareholding in Locon, along with affiliates of REA Group Limited and Softbank Group Corp investing US$50 million and US$5 million, respectively, into Elara.

The deal was signed on January 10, 2017.

latest News

  • Supreme Court to release funds for India-England test

    The BCCI rushed to the Supreme Court seeking disbursal of funds to the state cricket associations, saying the non-disbursal would lead to cancellation...

    Read More
  • Special Court Reserves Order In Coal Block Case For July 31

    A special court reserved the orders on framing of charges against a private firm, its two directors, and another person in a case of alleged irregular...

    Read More
  • Madras HC Asks State To Enact Special Legislation To Eradicate Prosopis Juliflora

    The Madurai Bench of the Madras High Court asked the state government to enact a special legislation to completely eradicate prosopis juliflora (Seema...

    Read More