Morrison & Foerster is advising Japan’s SoftBank Corp. on a $627 million investment in Indian e-commerce website Snapdeal.
The transaction is being conducted through SoftBank Internet and Media Inc., a Silicon Valley-based subsidiary. In a statement, the San Carlos, California-based subsidiary said the investment would make it the largest shareholder in Snapdeal, which has 25 million users and 50,000 sellers on its site. The statement did not disclose the exact percentage share of Snapdeal that SoftBank would own.
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