Khaitan & Co advised upGrad Education on the acquisition of Global Study Partners Holdings (GSP) for USD16 million and promised a further USD10 million for future growth.
Apart from advising on the acquisition, Khaitan & Co also conducted India due diligence, co-ordinated global due diligence, provided regulatory and structuring advice, drafted and negotiated the definitive agreements, and assisted in the execution and closing of the deal.
The team consisted of partners Monika Srivastava and Sanchit Agarwal, and senior associate Ranjini Gogoi, with assistance from partner Pranjal Prateek on competition and antitrust aspects, and principal associate Rahul Jain on tax aspects.
Other legal advisers included partner John Williamson-Noble and lawyer Tamara McConnell at Gilbert + Tobin, and partner Shane Barber and associate Alex Lazar at Bird & Bird.
GSP is Australia’s largest study abroad company. that was founded in 2015. It has a network of more than 600 institutions in Australia, Britain, Canada and the US with more than 1,300 recruitment partners.
upGrad is an Indian education technology company with a learner base of 2 million across 50 countries and more than 300 university partners.
