AZB & Partners and Davis Polk & Wardwell advised Jio Platforms and its parent, Reliance Industries, when five big-ticket investors acquired stakes in the subsidiary for a total of about US$10 billion.
In the most recent transaction on 21 May, KKR signed an agreement for a 2.32% stake in Jio for US$1.5 billion.
Shardul Amarchand Mangaldas & Co (SAM) and Simpson Thacher & Bartlett acted as legal counsel to KKR, which made the investment through Omicron Asia Holdings II.
Simpson Thacher’s team on the KKR deal included M&A partner Ian Ho, tax partner Nancy Mehlman and associate Joseph Tootle.
On 21 April, Facebook agreed on a US$5.7 billion investment – its largest to date and reportedly the largest foreign investment in the Indian tech sector to date – for a 9.9% stake in Jio, which it made through its subsidiary, Jaadhu Holdings.
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