Law firms JSA, IndusLaw, and A&O Shearman provide legal services for IndiGo's $401 million divestiture
In a significant move, global financial giant Citigroup has made a strategic investment in India's leading low-cost airline, IndiGo. The acquisition was made through an open market purchase worth 33.6 billion rupees ($401 million).
According to reports, Citigroup was advised by IndusLaw during this transaction. The exact role IndusLaw played in this deal is not yet clear, but it is common practice in such transactions for financial institutions to seek legal counsel.
On the other hand, J. Sagar Associates (JSA) advised Interglobe Enterprises, IndiGo's parent company, on a 2 percent divestiture in IndiGo. The sale of 7,719,573 equity shares by InterGlobe Enterprises reduced their shareholding in IndiGo's operating company, InterGlobe Aviation, to 35.76 percent.
The JSA team for the IndiGo divestiture included partners Madhurima Mukherjee Saha and Shivali Singh, and associate Rishika Kharbanda. IndusLaw's team for their advisory role in the IndiGo transaction included partners Vishal Yaduvanshi and Priyadarshini Rao, and associate Abishek Sankar.
It is worth noting that Citigroup was also advised by A&O Shearman, although the specifics of their involvement in this transaction are not yet clear.
This strategic investment by Citigroup is expected to strengthen IndiGo's position in the competitive Indian aviation market. As the airline continues to grow and expand, such investments could play a crucial role in its future success.
Citigroup, in its strategic investment in IndiGo, seemingly sought legal counsel from IndusLaw, a practice common in such transactions. On the other hand, J. Sagar Associates (JSA) provided financial and legal advice to Interglobe Enterprises, IndiGo's parent company, regarding a 2 percent divestiture in IndiGo, which involved finance and law matters.