ELP ADVISES FUTURE LIFESTYLE
Economic Laws Practice (ELP) assisted Future Lifestyle Fashions (FLFL) with the sale of a 10% stake to Singapore-based Spectacular Investments for US$125 million. The transaction is a combination of primary and secondary purchase (through a block deal), involving issuance of equity shares to Spectacular, and sale of shares by a few promoters and existing private equity investor Premji Invest to Spectacular.
ELP advised FLFL and sellers on the transaction, including drafting and negotiation of the transaction documents. The firm’s team comprised partners Darshan Upadhyay and Bhavin Gada, and senior associate Manendra Singh.
Spectacular is a registered foreign portfolio investor and owned by venture capital and private equity firm L Catterton Asia.
B CAPITAL INVESTS IN BIZONGO
B Capital, a fund floated by Facebook co-founder Eduardo Saverin, has made a Series B investment in Smartpaddle Technology (Bizongo). The investment by B Capital is a part of the larger Series B round of funding of US$20 million involving investment by International Finance Corporation, IDG and Accel.
Mumbai-based Bizongo operates a B2B marketplace in wholesale trading of packaging products.