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

  • California Assembly approves bill prohibiting employers from allowing immigration agents enter worksites without warrant

    On May 31, the State Assembly of California passed a bill, AB 450, prohibiting California employers from allowing immigration agents enter worksites o...

    Read More
  • SC Invites Suggestions From All HC Bar Associations In The Matter Of Senior Advocates Designation

    Former Additional Solicitor General (ASG) and Senior Counsel, Indira Jaising had filed application challenging the process of designation of Senior Ad...

    Read More
  • Lok Sabha Passes Mental Healthcare Bill 2016

    On March 27, the Lok Sabha passed the Mental Healthcare Bill 2016 seeking to decriminalize suicide attempt by mentally-ill people and provide for the ...

    Read More