Cyril Amarchand Mangaldas, Khaitan & Co. and Davis Polk & Wardwell have advised Indian telecommunications giant Reliance Jio Infocomm (RJIL), on its acquisition of wireless infrastructure assets from the debt-ridden Reliance Communications (RCom).

J Sagar Associates acted for the lenders, while RCom was represented by its in-house counsel.

RJIL will acquire four categories of assets from RCom: optic fibre cable networks, wireless spectrum and media convergence nodes. According to Reuters, RJIL is India’s fastest growing telecoms company with a subscriber base of close to 140 million. Through the deal, RJIL gets access to four bands of spectrum and 43,000 telecom towers and a countrywide fibre optic network.

RCom has said it is retreating from the consumer telecom space to focus on its enterprise business, and announced a new plan to slash its debt pile by 390 billion rupees ($6.09 billion) without any haircut from the banks, leaving it with only around 60 billion rupees in debt, reported Reuters.

The Davis Polk team included London partners Jeffrey R. O’Brien and Leo Borchardt, while the

Khaitan team was led by partners Haigreve Khaitan, Rahul Dutt, Niren Patel, Kumar Saurabh Singh, 

Sudip Mullick and Avaantika Kakkar.

The CAM team was led by Cyril Amarchand Mangaldas managing partner Cyril Shroff, as well as the firm’s national finance projects head L Viswanathan. Meanwhile, joint managing partner Dina Wadia and partner Soumitra Majumdar led the JSA team.