AZB & Partners and Davis Polk & Wardwell have advised Jio Platforms on its $4.5 billion sale of a 7.73 percent stake to  Google, which was represented by Freshfields Bruckhaus Deringer and J. Sagar Associates.

The deal comes on the heels of Qualcomm and Intel Corp investing $97.2 million and $253 million in Jio Platforms.
Jio Platforms is the digital unit of Reliance Industries, which is controlled by Indian billionaire Mukesh Ambani

Previously, Saudi Arabia’s Public Investment Fund (PIF), global investment firm TPG, private equity firm L Catterton, Abu Dhabi state fund Mubadala Investment, Abu Dhabi Investment Authority (ADIA), global investment firm KKR, U.S. private equity firm General Atlantic, investment management company Vista Equity Partners, private equity firm Silver Lake, and social media giant Facebook have purchased stakes in Jio Platforms.

Reliance has now sold nearly 33 percent of Jio Platforms, raising $20.22 billion since late April.

According to Reuters, the latest investment comes just days after Alphabet Inc., Google’s parent company, said it would invest $10 billion in India via a digitisation fund over the next five to seven years through equity deals and tie-ups.

The AZB team was led by Ashwath Rau, Nilanjana Singh and Bharat Budholia.

 

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

Related Articles

Malaysia’s CLO raids rival for five-partner corp team

by Nimitt Dixit |

Malaysian law firm Christopher & Lee Ong, a member firm of Rajah & Tann Asia, has significantly strengthened its corporate team with the addition of five partners from local rival Adnan Sundra & Low.

Ropes & Gray, Milbank, Wachtell act on Nippon Steel’s $15 bln purchase of U.S. Steel

by Mari Iwata |

U.S. law firm Ropes & Gray has advised Japan’s largest steelmaker Nippon Steel Corporation on its $14.9 billion acquisition of U.S. Steel, which was represented by Milbank and Wachtell, Lipton, Rosen & Katz.

Freshfields enhances Japan M&A offering with dual partner hire

by Nimitt Dixit |

Global law firm Freshfields Bruckhaus Deringer has added transactional attorneys Noah Carr and Gordon Palmquist as partners in its Tokyo office from Latham & Watkins and Mayer Brown, respectively.