Cyril Amarchand Mangaldas advises J.P. Morgan on Rs 1602 cr block trade by Sojitz Corporation in Samvardhana Motherson International
Feb 08, 2023
Mumbai (Maharashtra)/ New Delhi [India], February 8 (ANI/BusinessWire India): Cyril Amarchand Mangaldas advised J.P. Morgan India Private Limited (J.P. Morgan), the broker, in relation to the share sale of 4.4 per cent equity stake by Sojitz Corporation in Samvardhana Motherson International Limited (Motherson) by Sojitz Corporation, over two tranches in October 2022 and January 2023, with an aggregate value of Rs 1,602 crore.
The Transaction involved the sale of equity shares of Motherson by way of a share sale on the screen-based trading platform of the stock exchanges. In the first tranche, Sojitz Corporation divested 2.83 per cent stake in Motherson, for a reported aggregate amount of Rs 825.98 crore. The second tranche comprised a sale of 1.57 per cent stake by Sojitz Corporation in Motherson for a reported aggregate amount of Rs 776.3 crore.
The Capital Markets Practice of Cyril Amarchand Mangaldas advised J.P. Morgan on the transaction. The transaction team was led by Abhinav Kumar, Partner & Regional Head Markets Practice (Western Region); with support from Anuj Pethia, Consultant; and Aashima Johur, Principal Associate.
Other Parties and Advisors to the transaction included Ashurst LLP, U.S. (acted as international legal counsel for broker).
The transaction was signed on 16th January 2023, and closed on 18th January 2023.
This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
