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, 20:30 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

23 ℃

Haze in Kolkata/Bose

International

Section

WSJ says Israel and Mossad behind Sunday's attacks on Iran

Israel was behind Sunday morning's drone strike on an Iranian munitions facility; the Wall Street Journal has reported, citing American ...

UK tanks for Ukraine must arrive by March, says minister

LONDON, England: Of the 14 main battle tanks and additional artillery support it will send to Ukraine, Britain hopes its ...

Insurance paid $313 billion in 2022 for disasters in 2022, says Aon

LONDON, England: Insurance broker Aon has estimated that natural disasters caused global economic losses worth $313 billion in 2022.It added ...

Exec for Juan Valdez coffee sentenced to jail in $900,000 theft

NEW YORK CITY, New York: After being convicted of stealing more than $900,000 from the company, Rosita Joseph, former executive ...

US arms exports rise 49 percent in fiscal 2022

WASHINGTON D.C.: The US State Department has said that in the latest fiscal year, US military equipment exported to foreign ...

Long-awaited return of tourists finally arrives in Macau gambling hub

MACAU CITY, Macau: Over the Lunar New Year holiday, Macau, the world's largest gambling hub, witnessed a resurgence of tourists ...

India

Section

Movie Review

The World's Most Beautiful Swindlers (Les plus belles escroqueries du monde)

World's Most Beautiful Swindlers