Skip to main content

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

Deals

CAM, Khaitan act on Bain’s $500 mln India gold bet as big clients go firm shopping

by Nimitt Dixit |

Bain Capital has engaged Cyril Amarchand Mangaldas for its strategic acquisition of an 18% stake in Manappuram Finance, marking a notable shift in legal partnerships for the asset manager amid rising gold prices in India.

Deals

Six firms act on landmark $3.8 billion insurance deal

by Nimitt Dixit |

Mori Hamada & Matsumoto, Herbert Smith Freehills, Hengeler Mueller, Freshfields, Sullivan & Cromwell, and Skadden, have advised in the $3.8 billion acquisition of Viridium Group, marking a significant transaction in the European insurance sector.

Deals

S&R, CAM act on $980 mln Roadstar Infra InvIT listing

by Nimitt Dixit |

Indian law firm S&R Associates has advised Infrastructure Leasing & Financial Services subsidiary Roadstar Infra Investment Trust, its sponsor Roadstar Infra and Roadstar Investment Managers in the listing of 455.4 million InvIT units at a valuation of approximately $980 million.