Appleby’s Cayman Islands and Mauritius offices advised Cartica Acquisition Corp (Cartica), a special purpose acquisition company, in connection with its entry into a definitive agreement and plan of merger for a business combination with Nidar Infrastructure Limited (Nidar), India’s leading data center provider for artificial intelligence and high-performance computer services. The pre-transaction equity value of Nidar is approximately $2.75 billion.
The multi-jurisdiction Appleby team advising Cartica was led by Cayman partner Dean Bennett with assistance from Cayman associate Criona Gannon, Mauritius partner Farzanah Nawool and Mauritius associate, Suhaylah Juman.
Commenting on the matter Cayman M&A partner Dean Bennett said “We are delighted to be representing Cartica on this high-profile transaction and congratulate the Cartica management team and Board on reaching this milestone. We look forward to assisting the parties with the satisfaction of closing conditions and bringing the combined Cartica/Nidar group to the US public markets.”.
With a broad global footprint, strong working relationships with local regulators and deep transactional experience, our M&A team is well-positioned to advise clients on the offshore aspect of a wide range of M&A activities in the US-Asia region.
