Hogan Lovells and Shardul Amarchand Mangaldas have advised social media giant Facebook on its $5.7 billion purchase of a 9.9 percent stake in Jio Platforms, the digital arm of India’s Reliance Industries, which was represented by Davis Polk & Wardwell and AZB & Partners.
Also advising Facebook on the deal were Gibson Dunn & Crutcher, White & Case and Fenwick & West.
Jio Platforms is a digital services entity that houses Reliance’s telecoms arm Jio Infocomm, as well as its news, movie and music apps, along with other businesses. According to Reuters, this deal is the largest for Facebook since its $22 billion buyout of WhatsApp in 2014, and is also the eighth-largest deal in Asia this year based on deal value.
The SAM team was led by partners Raghubir Menon, Natashaa Shroff, Sakshi Mehra, Naval Chopra, Yaman Verma, Anuj Berry, Tejas Karia, Pavit Singh Katoch, Shashank Mishra, Shahana Chatterji, Yogesh Chande; Abhay Sharma, Rajat Bose, Gouri Puri, Shilpa Mankar Ahluwalia and Shubhangi Garg.
Meanwhile, the AZB team was led by partners Ashwath Rau, Nilanjana Singh and Bharat Budholia.
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