Cyril Amarchand Mangaldas advised Blackstone Group L.P on acquisition of R Systems International Limited (R Systems). R Systems is an Indian listed company with a global presence, engaged in the business of rendering digital and product engineering services. The acquisition is for a total consideration of USD 359 million and involves a delisting offer by Blackstone.
The General Corporate (M&A, Technology & IPR, Real Estate, Employment), Competition Law Practices, and Corporate Secretarial Team of Cyril Amarchand Mangaldas advised on the Transaction. The scope of work included drafting, negotiations, review and finalisation of the share purchase agreement, and legal due diligence. The transaction was led by Shishir Vayttaden, Partner; Gautam Gandotra, Partner; with support from Shweta Sriram, Principal Associate; Arnav Shah, Principal Associate; Reeti Agarwal, Associate; Riya Sharma, Associate; Raksha Raina, Associate; Tawishi Beria, Associate; and Siddharth Rana, Associate.
Team led by Abhishek Sharma, Partner (Co-head-Real Estate); Abhilash Pillai, Partner; Ashish Jain, Partner; with support from Urjita Chitnis, Senior Consultant; Karan Sharma, Principal Associate; Jinal Mehta, Principal Associate; Ritha Ulbyre, Senior Associate; Shorya Choudhary, Associate; Siddharth Iyer, Associate; undertook the real estate diligence and provided inputs related to Real Estate.
Team led by Arun Prabhu, Partner (Head – TMT); Anirban Mohapatra, Partner; with support from Arpita Sengupta, Senior Associate; Aakriti Singh, Associate; and Anoushka Soni, Associate; advised on Technology, IPR and data privacy related aspects of the transaction.
Employment law advisory and due diligence was led by Richa Mohanty Rao, Partner; with support from V Ankita Sharma, Senior Associate; and Anushka Dua, Associate.
Team led by Avaantika Kakkar, Partner (Head-Competition); Kaustav Kundu, Partner; with support from Ruchi Verma, Principal Associate; Shivani Sathe, Associate; Shruti Khaitan, Associate; Mohini Parghi, Associate; provided strategic inputs related to Competition Law.
Bharat Vasani, Parnter; with support from Chirag Nagda, Associate Director; Mihir Sangani, Assistant Manager; Manik Makwana, Manager; Shikha Mody; and Sneha Nautiyal, Executive; provided Corporate Secretarial Services.
As a part of the Transaction Blackstone Group L.P., through a company in Singapore, BCP Asia II Topco II Pte. Ltd. (Blackstone) has agreed to purchase a majority stake in R Systems from its current promoters.
Other parties and advisors to the transaction included KPMG(acted as tax advisor for The Blackstone Group L.P.); PWC(acted as tax advisor for R Systems); BDA Partners(acted as financial advisor for R Systems); Simpson Thacher & Bartlett LLP(acted as international law firm)
The Transaction was signed on 16th November, 2022
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.