S&R Associates and Amarchand & Mangaldas & Suresh A. Shroff & Co. had the lead roles in a deal that will see Vodafone Group plc. take full ownership of its Indian subsidiary.
Vodafone last week closed a deal to pay $1.48 billion for the remaining 11 percent stake in Vodafone India Ltd. it didn’t already own. The seller was Mumbai-based pharmaceutical group Piramal Enterprises Ltd.
The deal marks the first time an Indian telecom carrier has been permitted to be 100 percent owned by a foreign entity. U.K.–based Vodafone has heavily focused on emerging markets, and has some 160 million subscribers in India.
New Delhi partner Rajat Sethi led a team at S&R Associates advising Vodafone.
Amarchand Mumbai partners Cyril Shroff and Leena Chacko represented Piramal Enterprises.