Cyril Amarchand Mangaldas advises on L&T Technology Services' acquisition of Smart World and Communication Business of L&T on slump sale basis

ANI PR Wire
19 Jan 2023, 20:30 GMT+10

Mumbai (Maharashtra)/New Delhi [India], January 19 (ANI/BusinessWire India): Cyril Amarchand Mangaldas advised Larsen and Toubro Limited (L&T), in relation to sale of its 'Smart World and Communications Business' (SW&C Business) to its listed subsidiary L&T Technology Services Limited (LTTS), for an aggregate amount of INR 800 crore. The Transaction seeks to leverage LTTS's global footprint and achieve a global market reach for the SW&C Business.

The General Corporate Practice of Cyril Amarchand Mangaldas acted as the legal counsel for L&T Group in the transaction. The transaction team was led by Shishir Vayttaden, Partner; and Aditi Singhvi, Partner; with the support of Riya Sharma, Associate.

The diligence was conducted by Aditi Singhvi, Partner; with support from Shreejoyee Bhattacharya, Associate; Rajat Sinha, Associate; Kabeer Jay, Associate; Tawishi Beria, Associate; and Pritha Taraphder, Associate.

The Employement team was lead Bishen Jeswant, Partner; with support from Akash Mishra, Associate;

Our partner Anirban Mohapatra, Partner; advised on data privacy and data protection related compliance.

Our scope of work included drafting, negotiating, reviewing and finalizing the business transfer agreement and conducting diligence for drafting of the disclosure letter to the business transfer agreement.

The Transaction was signed on 12th January 2023.

This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Cambodian Times.

More Information

31 ℃

Partly Cloudy in Phnom-Penh

International

Section

Investigation begins as two planes cleared for same runway in Texas

AUSTIN Texas: The Federal Aviation Administration and the US National Transportation Safety Board said they are both investigating an aborted ...

Rail traffic halted in Ohio after train with chemicals catches fire

EAST PALESTINE, Ohio: After a freight train carrying hazardous chemicals derailed in Ohio near the Pennsylvania state line on February ...

Thousands more bodies found following Turkish-Syrian quake

Rescue teams in Turkey and Syria continue the search for survivors of the catastrophic earthquake that hit the region on ...

US weighs ending protection of bears at Yellowstone, Glacier Park

WASHINGTON D.C.: The Biden administration has indicated that it could end federal protection for grizzly bears in the northern Rocky ...

Philippines hands over four more military bases to US

MANILA, Philippines: The Philippines has granted the United States four more locations to open military bases, U.S. Defense Secretary Lloyd ...

While friends and foes rush to Syria's aid, U.S. refuses to help

WASHINGTON, DC - The global community has extended aid to Turkey and Syria following the devastating earthquakes that hit the ...

Sports

Section