AZB assists Tata acquisition of 1MG

0
158
AZB assists Tata acquisition of 1MG

AZB & Partners advised Tata Digital, a subsidiary of Tata Sons, when it recently acquired a majority stake in 1MG Technologies, a digital health platform. IndusLaw advised 1MG Technologies.

The deal, in which Tata will acquire more than 50% of 1MG’s equity, was signed on 23 April and closed on 6 October.

AZB & Partners’ team comprised partner Nilanjana Singh and senior associate Devika Nayak.

IndusLaw’s team comprised partner Manish Gupta, principal associate Ashish Ahluwalia and associate Shivam Gupta.

When the deal, which is valued at more than USD100 million, was announced on 10 June, Tata said: “The investment in 1MG is in line with the Tata group’s vision of creating a digital ecosystem that addresses consumer needs across categories in a unified manner.”