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Wednesday, February 8, 2023

Press Release

Cyril Amarchand Mangaldas advises on L&T Technology Services’ acquisition of Smart World and Communication Business of L&T on slump sale basis

Business Wire India

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; and Aditi 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 Employement team 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.

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