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.

 

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