Law firms JSA, IndusLaw, and A&O Shearman provide legal services for IndiGo's $401 million asset divestiture.
In a significant move in the Indian aviation sector, Interglobe Enterprises, the parent company of IndiGo, has sold a 2 percent stake in IndiGo for 33.6 billion rupees ($401 million). This sale, which amounts to 1.99 percent of the company, reduced Interglobe Enterprises' shareholding in Interglobe Aviation, the operator of IndiGo, to 35.76 percent.
The divestiture was not a first for Interglobe Enterprises, as it previously held a 37.75 percent stake in the company. The sale occurred via the open market, with Citigroup purchasing IndiGo shares worth 13.6 billion rupees.
J. Sagar Associates (JSA) served as the legal advisors for Interglobe Enterprises during this transaction, with the team led by partners Madhurima Mukherjee Saha and Shivali Singh, and associate Rishika Kharbanda. On the other hand, IndusLaw and A&O Shearman represented Citigroup in the deal. The IndusLaw team included partners Vishal Yaduvanshi and Priyadarshini Rao, with associate Abishek Sankar.
However, the search results do not provide any information about the legal advisors for Citigroup in India specifically related to the IndiGo divestiture case. Further research may be necessary to identify these advisors, potentially through specialized legal case reports, company disclosures, or official announcements related to the IndiGo divestiture.
In the sale, Interglobe Enterprises disposed of 7,719,573 equity shares in Interglobe Aviation. The transaction marks a significant step in the Indian aviation industry, demonstrating the continued growth and evolution of IndiGo, one of the country's leading low-cost airlines.
After the sale, Interglobe Enterprises might have to adhere to certain financial and legal regulations regarding their reduced shareholding in Interglobe Aviation. This transaction, being a significant deal in the Indian aviation sector, may have been advised by legal firms, and it would be interesting to know who represented Citigroup in this specific case.
In light of the sale, it is crucial for both Interglobe Enterprises and Citigroup to ensure that all financial and legal aspects are in order to avoid any potential disputes or issues with regards to the IndiGo divestiture.
