AZB & Partners has advised Canada’s Brookfield Asset Management on its agreement to invest 252 billion rupees ($3.7 billion) in Reliance Industries’ telecom tower assets, with Cyril Amarchand Mangaldas advising the sellers.

This is believed to be the single-biggest private equity deal ever in India. It will give the Canadian alternative assets manager and its partners 100 percent of India’s largest telecom tower company, with 170,000 towers through Tower Infrastructure Trust.

This is the second investment this year that Brookfield is making in a venture controlled by Reliance chairman Mukesh Ambani. In March, it agreed to buy the loss-making East-West Pipeline (EWPL), earlier known as Reliance Gas Transportation Infrastructure, for 130 billion rupees. AZB advised EWPL on that deal.

The AZB team on the tower deal was led by partners Gautam Saha and Madhurima Mukherjee.

 

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

Related Articles

Appointments

Former Trilegal equity partner becomes CAM’s fourth September partner hire

by Nimitt Dixit |

Rohan Ghosh Roy, a former Trilegal partner who helped build the firm’s technology and private equity clientele, is joining Cyril Amarchand Mangaldas as equity partner in Mumbai, following a two-year career break.

Appointments

CAM continues rapid expansion with NDA private equity co-head

by Nimitt Dixit |

Ratnadeep Roychowdhury, co-head of Nishith Desai Associates’ private equity and sovereign wealth funds group has moved to Cyril Amarchand Mangaldas, making him the second NDA practice head to move to CAM in a week.

Appointments

BYJU’s GC rejoins SAM as corporate equity partner

by Nimitt Dixit |

Roshan Thomas has left his role at troubled edtech unicorn BYJU’s to rejoin Shardul Amarchand Mangaldas & Co as an equity partner in its Bengaluru-based corporate practice.