Shardul Amarchand Mangaldas advised KKR & Co. Inc. on its follow-on investment in Reliance Retail Ventures Limited (RRVL). The transaction involved the subscription of 17,158,752 equity shares of RRVL for a consideration of USD 250 million (INR 2,069.50 crore) among Reliance Industries Limited (RIL), Reliance Retail Ventures Limited (RRVL) and KKR. With this investment, the KKR’s shareholding in RRVL has increased to approximately 1.42%.
The transaction team was led by Raghubir Menon, Partner and Regional Practice Head- M&A and Private Equity, General Corporate; Natashaa Shroff, Partner; Sakshi Mehra, Partner; Shiladitya Banerjee, Partner; Deepa Rekha, Partner; Tushnaz Patel, Senior Associate; Abhimanyu Hazari, Senior Associate and Rooha Khurshid, Senior Associate.
The due diligence team was led by Natashaa Shroff, Partner; Sakshi Mehra, Partner; Shiladitya Banerjee, Partner; Deepa Rekha, Partner; Apoorva Murali, Partner; Swati Sharma, Principal Associate; Neha Khanduri, Senior Associate; Pranav Awasthi, Senior Associate; Tushnaz Patel, Senior Associate; Abhimanyu Hazari, Senior Associate; Ananya Kulkarni, Senior Associate; Neha Pilay, Senior Associate; Shrungar Bhuva, Senior Associate; Shaileja Verma, Senior Associate; Debanik Bid, Associate; Madhurika Durge Associate; Vedika Walia, Associate; Shubhangi Maheshwari, Associate; Devangana Mandal, Associate; Srobona Ghosh Dastidar, Associate; Ketayun Mistry, Associate; Vishu Surana, Associate, Shreya Goyal, Associate; Gaurang Mandavkar, Associate; Viraaj Gaur, Associate; Shambhavi Nargundkar, Associate; Aryan Roy, Associate; Alice Sharma, Associate and Rajat Sinha, Associate.
The competition team was led by Harman Singh Sandhu, Partner; Atreyee Sarkar, Principal Associate and Neetu Ahlawat, Principal Associate.
Simpson, Thacher and Bartlett acted as the international legal advisors to KKR. Whereas Deloitte Touche Tohmatsu India LLP advised KKR on finance and tax.
Cyril Amarchand Mangaldas and Davis Polk & Wardwell LLP advised Reliance Industries Limited (“RIL”) and Reliance Retail Ventures Limited (“RRVL”) on the legal aspects.
About Shardul Amarchand Mangaldas & Co.:
Shardul Amarchand Mangaldas & Co., founded on a century of legal achievements, is one of India’s leading full-service law firms. The Firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation, and collaboration. SAM & Co. is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & bankruptcy, dispute resolution, international commercial arbitration, capital markets, banking & finance, tax, intellectual property, data protection and data privacy, technology law and projects & infrastructure.
The Firm has a pan-India presence and has been at the helm of major headline transactions and litigations in all sectors, besides advising major multinational corporates on their entry into the Indian market and their business strategy. Currently, the Firm has over 815 lawyers including 163 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru, and Chennai.