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, 16:00 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 Kolkata Sun.

More Information

null in null

International

Section

CDC: US records 1,288 measles cases, most since 1992 outbreak

ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...

Gaza War sucking life out of an Israeli generation

In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...

Faulty IT system at heart of UK Post Office scandal, says report

LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...

Travelers can now keep shoes on at TSA checkpoints

WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...

Rubio impersonator used AI to reach officials via Signal: cable

WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...

Warsaw responds to migration pressure with new border controls

SLUBICE, Poland: Poland reinstated border controls with Germany and Lithuania on July 7, following Germany's earlier reintroduction...

India

Section