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 12 th January 2023.
About Cyril Amarchand Mangaldas:
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a
global reputation of being trusted advisers to its clients. The Firm
advises a large and diverse set of clients, including domestic and
foreign commercial enterprises, financial institutions, private equity
and venture capital funds, start-ups, government and regulatory bodies.
The Firm generalists, specialists and senior ex-regulators expertly
guide clients across a spectrum of transactions, sectors and
regulations. With 1000 lawyers and 160 Partners, the Firm is the
largest full-service law firm in India and offices in key business
centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai,
GIFT City and also in Singapore.
The Firm recently received “Innovation in Advancing Markets” award at
the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law
Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards
ceremony. The Firm had won “India Deal Firm of the Year” at the
ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in
2021.
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