Shardul Amarchand Mangaldas and Simpson Thacher & Bartlett and Kirkland & Ellis have advised Blackstone Group on its $1.1 billion acquisition of a majority stake in Indian IT outsourcing services provider Mphasis, as one of the biggest M&A transactions in India's outsourcing sector.

The seller, Hewlett Packard Enterprise was represented by Freshfields Bruckhaus Deringer and Indian law firm Platinum Partners. 

As per the deal Blackstone will pay 430 rupees ($6.49) per share for at least 84 percent of HP Enterprise Co's 60.5 percent stake in Mphasis, with an open offer to buy a 26 percent stake from public shareholders.

Shardul Amarchand’s corporate head Shuva Mandal, and partners Raghubir Menon, Abhishek Guha, Yogesh Chandem and Shweta Shroff Chopra advised Blackstone. Meanwhile, the Freshfields team was led by London partners Pratap Amin and Jill Gatehouse.

Kirkland & Ellis' Hong Kong partners David Irvine and Nicholas Norris advised Blackstone on the finacing acpects of the deal, while Linklaters acted for the arrangers.

India’s IT and software services export revenue is likely to grow by 10-12 percent in 2016, according to Nasscom.


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