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; andAditi 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 Employementteam 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.
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.