Cyril Amarchand Mangaldas has advised private equity firm Samara Capital, and AZB & Partners has advised global giant Amazon on the firms’ joint $590 million purchase of Indian food and grocery retail chain More from Aditya Birla Group, which was counselled by Veritas Legal.
The agreement sees Samara Capital hold a 51 percent stake in More, with Amazon holding the remaining 49 percent.
According to Reuters, Amazon’s latest acquisition adds more heat to the U.S. e-commerce giant’s battle with Walmart in the Indian market, after Walmart acquired Indian firm Flipkart for $16 billion.
The Cyril Amarchand Mangaldas team was led by managing partner Cyril Shroff, partners Shagoofa Khan, Manu Varghese, Anshuman Sakle and Avaantika Kakkar.
P&A Law Offices also advised Amazon. The team was headed by managing partner Anand S Pathak and partner Shashank Gautam.
The Veritas legal team was led by partners Abhijit Joshi and Nandish Vyas.
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