AZB & Partners has represented Jio Platforms, the digital arm of India’s Reliance Industries, on the $750 million sale of a stake to California-based private equity firm Silver Lake, which was advised by Shardul Amarchand Mangaldas.

The announcement of Silver Lake’s investment comes days after social media giant Facebook acquired a 9.9 percent stake in Jio Platforms for $5.7 billion. In that deal as well, AZB advised the seller while SAM represented the buyer.

According to Reuters, the deal adds to a flurry of fund-raising activity announced by Reliance Industries in recent weeks with plans to eliminate $21.4 billion of net debt by the end of the year.

The AZB team was led by partners Ashwath Rau, Nilanjana Singh and Bharat Budholia.

 

To contact the editorial team, please email ALBEditor@thomsonreuters.com.