AZB & Partners advised Bharti Airtel and Warburg Pincus when the former bought back a 20% stake in Bharti Telemedia that was held by Warburg Pincus through its affiliate, Lion Meadow Investment.
The deal, valued at ₹31.26 billion (US$432.3 million) was announced on 17 February.
AZB & Partners’ team on the deal comprised: Partners Gautam Saha and Swati Chauhan (Bharti Airtel); and partners Anil Kasturi and Ashish Pareek, and senior associate Anshuman Vikram Singh (Warburg Pincus).
Bharti Airtel said the deal was part of its strategy to align the shareholding of its customer-facing products, services and businesses under the same holding group. Bharti Telemedia is the direct-to-home television arm of Bharti Airtel.