Shardul Amarchand Mangaldas advise Blackstone Group L.P in acquiring share capital
Shardul Amarchand Mangaldas & Co (SAM & Co) advised Blackstone Group L.P in acquiring 50% share capital of: (a) Indiabulls Properties Private Limited, (b) Indiabulls Real Estate Company Private Limited, (c) Yashita Buildcon Limited, and (d) Ashkit Properties Limited (collectively, the Portfolio Companies) from Indiabulls Real Estate Limited. The Target Companies own and manage marquee...
Shardul Amarchand Mangaldas & Co (SAM & Co) advised Blackstone Group L.P in acquiring 50% share capital of: (a) Indiabulls Properties Private Limited, (b) Indiabulls Real Estate Company Private Limited, (c) Yashita Buildcon Limited, and (d) Ashkit Properties Limited (collectively, the Portfolio Companies) from Indiabulls Real Estate Limited. The Target Companies own and manage marquee projects, such as Indiabulls Finance Centre, One Indiabulls Centre, and Indiabulls Tech Park.
SAM & Co acted as legal counsel to Blackstone Group Inc. and were involved in transaction strategy, structuring the transaction; conducting legal due diligence on the Portfolio Companies; and drafting and negotiating the transaction documents.
The transaction team from SAM & Co included Anuj Bhasme, Partner; Neety Thakkar, Principal Associate; Gaurav Dugar, Senior Associate; Nishtha Soonee, Senior Associate; Nishant Sharma, Senior Associate; Avichal Mathur, Senior Associate; Neekesh Shetty, Senior Associate; Nirav Punjani, Associate; Sangeetha Ganesh, Associate; Rutvi Shrimankar, Associate and Apeksha Narula, Associate.
Akshay Chudasama, Managing Partner - Mumbai Region, provided key strategic inputs and guidance.
Ashoo Gupta, Partner; Mansi Samdani, Associate; Aanchal Jogani, Associate and Shourya Dasgupta, Associate advised on real estate.
Gauri Chabbra, Partner and Kajori De, Associate advised on competition law. Veena Sivaramakrishnan, Partner and Utkarsh Bandhu, Principal Associate advised on Banking and Finance law.
The other parties involved in the transaction were Simpson Thacher & Bartlett that acted as international legal counsel to Blackstone. Kirkland & Ellis conducted the FCPA due diligence. Ernst and Young conducted the financial due diligence and the indirect tax due diligence. Bobby Parikh Associates advised on structure related aspects and conducted the direct tax diligence.
The value of the deal is INR 2717,00,00,000. The deal was signed and closed on September 25, 2019.