AZB & Partners has advised Reliance Industries’ Jio Platforms on its $1.5 billion sale of a 2.32 percent stake to investment management company Vista Equity Partners, which was represented by Shardul Amarchand Mangaldas and Kirkland & Ellis.
The Vista Equity deal came barely days after private equity firm Silver Lake and social media giant Facebook purchased stakes in the heavily indebted Jio Platforms. AZB and SAM advised in both deals as well.
According to Reuters, Vista’s investment gave Jio an equity value of 4.91 trillion rupees ($65 billion) and an enterprise value of 5.16 trillion rupees ($68 billion).
The three deals together will inject a combined $8 billion in the telecoms-to-energy group and help Jio Platforms pare its debt, Reuters added.
Meanwhile, two more firms, a Saudi sovereign wealth fund and General Atlantic, are exploring investments in Jio platforms, according to Bloomberg. The report added that General Atlantic is discussing a potential investment of about $850 million to $950 million in Jio Platforms.
The AZB team was led by partners Ashwath Rau, Nilanjana Singh and Bharat Budholia.
To contact the editorial team, please email ALBEditor@thomsonreuters.com.