News By/Courtesy: Daksh Dave | 24 Jun 2020 23:59pm IST

HIGHLIGHTS

  • CCI
  • SAM
  • AZB

The Competition Commission of India today approved the acquisition of a 9.99 percent stake in Jio Platforms by Jaadhu Holdings LLC (Facebook) In April, US social media major Facebook invested Rs. 43,574 crore (USD 5.7 billion) in Jio Platforms, a 9.99 percent stake in Reliance Industries. Shardul Amarchand Mangaldas acted on Facebook and filed the CCI filing and received approval from the CCI for this investment. 

The team of Shardul Amarchand Mangaldas was led by Partner Naval Chopra and Yaman Verma. AZB & Partners Partner Bharat Budholia has advised Jio Platforms on the competition aspect. Facebook started investing in Jio Platforms first. There were 9 more investors following Facebook-Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, Public Investment Fund.i Shardul Amarchand Mangaldas and Hogan Lovells have been advising Facebook on the deal. Along with Principal Associate Deep Rekha and Senior Associate Srishti Maheshwari, SAM team was led by partners Raghubir Menon, Sakshi Mehra, and Natasha Shroff. Reliance Industries is represented by AZB &  Partners and Davis Polk & Wardwell. Partners Ashwath Rau and Nilanjana Singh led AZB team.ii 

THIS ARTICLE DOES NOT INTEND TO HURT THE SENTIMENTS OF ANY INDIVIDUAL, COMMUNITY, SECT, OR RELIGION ETCETERA. THIS ARTICLE IS BASED PURELY ON THE AUTHOR'S PERSONAL VIEWS AND  OPINIONS IN THE EXERCISE OF THE FUNDAMENTAL RIGHT GUARANTEED UNDER ARTICLE 19(1)(A) AND  OTHER RELATED LAWS BEING FORCE IN INDIA, FOR THE TIME BEING.

 

Section Editor: Pushpit Singh | 26 Jun 2020 11:09am IST


Tags : Jio-Facebook Deal

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