$401 million IndiGo Airline undergoes divestment, with JSA, IndusLaw, and A&O Shearman serving as legal advisors.
In a significant move, InterGlobe Enterprises has reduced its shareholding in InterGlobe Aviation, the parent company of low-cost Indian airline IndiGo, to 35.76 percent following the sale of 7,719,573 equity shares. The value of the transaction was 33.6 billion rupees ($401 million).
The legal advisors for InterGlobe Enterprises during this divestiture were J. Sagar Associates, with partners Madhurima Mukherjee Saha, Shivali Singh, and associate Rishika Kharbanda leading the team. On the other hand, the identities of Citigroup’s legal advisors for their IndiGo share acquisitions are not widely reported in accessible sources as of now. It may be necessary to consult official transaction press releases, securities filings, or contact Citigroup’s investor relations or corporate legal department directly for this information.
Citigroup, however, was advised by IndusLaw in the IndiGo share purchase. The IndusLaw team included partners Vishal Yaduvanshi and Priyadarshini Rao, along with associate Abishek Sankar. It's worth noting that Citigroup bought IndiGo shares worth 13.6 billion rupees via the open market.
Before the sale, InterGlobe Enterprises held a 37.75 percent stake in InterGlobe Aviation. The airline continues to operate as one of India's leading low-cost carriers, providing essential air travel services to millions of passengers.
As always, it's important to stay informed about such developments in the business world. Keep an eye out for more updates on this story as they unfold.
The legal representation for IndiGo's share acquisition by Citigroup was provided by IndusLaw, with partners Vishal Yaduvanshi, Priyadarshini Rao, and associate Abishek Sankar playing key roles. In the midst of this financial transaction, the law was a crucial factor to consider.
