BYJU’S’ $1 Billion Acquisition of Aakash Educational Services Limited

Shardul Amarchand Mangaldas & Co. advised Think & Learn Private Limited on the deal, while Khaitan & Co. represented Aakash Educational Services Limited, and Trilegal advised Blackstone on the deal.

Think & Learn Private Limited (BYJU’S) acquired 100% shares of Aakash, the deal was valued at approximately $1 billion.

BYJU’S is an Indian multinational educational technology company headquartered in Bengaluru, Karnataka.

Ernst & Young advised BYJU’S on investment banking, financial and tax aspects. Khaitan & Co. advised Aakash on legal aspects. Transaction Square LLP advised Aakash on tax aspects. Phoenix Advisers acted as investment bankers to Aakash. Trilegal and KMPG advised the Blackstone Group, an existing shareholder of Aakash, on legal and tax aspects.

The Shardul Amarchand Mangaldas & Co. team was led by Partner Amit Khansaheb (Picture); Roshan Thomas, Partner; Prateek Lala, Partner; Pranav Raju, Senior Associate; Ritwik Mukherjee, Associate; Rachna Chhabria, Associate; and Aishwarya Ray, Associate.
The Intellectual Property Law Team (on due diligence and documentation) was led by Mukul Baveja, Partner; Leoni Mahanta, Principal Associate; Apoorva Murali, Senior Associate; and Tim Gupta, Associate.
The Litigation and Disputes Team (on due diligence and merger related documentation) was led by Arjun K. Perikal, Partner; and Akshita Alok, Senior Associate. The Competition Law Team was led by Naval Satarawala Chopra, Partner; Aparna Mehra, Partner; Kajori De, Associate; Rahul Shukla, Associate; Kshitij Sharma, Associate; and Ritika Sood, Associate. The Due Diligence Team was led by Roshan Thomas, Partner; Arjun K. Perikal, Partner; Mukul Baveja, Partner; Leoni Mahanta, Principal Associate; Pranav Raju, Senior Associate; Apoorva Murali, Senior Associate; Akshita Alok, Senior Associate; and Rachna Chhabria, Associate.

The Khaitan & Co team consisted of Bharat Anand (Partner), Nidhi Killawala (Partner), Nimisha Trehan (Principal Associate) and Akshay Sharma (Principal Associate); Competition law aspects and the Antitrust filings: Manas Kumar Chaudhuri (Partner), Pranjal Prateek (Partner) and Alisha Mehra (Associate); Merger and other corporate aspects: Atul Pandey (Partner), Hirak Mukhopadhyay (Principal Associate), Nikita Bhuwania (Principal Associate), Pulkit Chaturvedi (Senior Associate), Varun Yadav (Associate) and Aayush Thapar (Associate); Intellectual property law aspects: Shailendra Bhandare (Partner); Employment law aspects: Anshul Prakash (Partner) and Abhinav Rastogi (Counsel).

The Trilegal team included Nishant Parikh, Arjun Ghose, Anirudh Agarwala, Aakriti Shakdher, Medha Shah, Rahil Pereira, Sneha Vardhan, Sumedha Kamra and Vatsla Bhardwaj

Involved fees earner: Medha Shah – J. Sagar Associates (JSA); Bharat Anand – Khaitan & Co.; Shailendra Bhandare – Khaitan & Co.; Nikita Bhuwania – Khaitan & Co.; Nidhi Killawala – Khaitan & Co.; Manas Kumar Chaudhuri – Khaitan & Co.; Alisha Mehra – Khaitan & Co.; Hirak Mukhopadhyay – Khaitan & Co.; Atul Pandey – Khaitan & Co.; Anshul Prakash – Khaitan & Co.; Pranjal Prateek – Khaitan & Co.; Abhinav Rastogi – Khaitan & Co.; Akshay Sharma – Khaitan & Co.; Aayush Thapar – Khaitan & Co.; Nimisha Trehan – Khaitan & Co.; Varun Yadav – Khaitan & Co.; Akshita Alok – Shardul Amarchand & Mangaldas & Co.; Mukul Baveja – Shardul Amarchand & Mangaldas & Co.; Rachna Chhabria – Shardul Amarchand & Mangaldas & Co.; Naval Chopra – Shardul Amarchand & Mangaldas & Co.; Kajori De – Shardul Amarchand & Mangaldas & Co.; Tim Gupta – Shardul Amarchand & Mangaldas & Co.; Amit Khansaheb – Shardul Amarchand & Mangaldas & Co.; Prateek Lala – Shardul Amarchand & Mangaldas & Co.; Leoni Mahanta – Shardul Amarchand & Mangaldas & Co.; Aparna Mehra – Shardul Amarchand & Mangaldas & Co.; Ritwik Mukherjee – Shardul Amarchand & Mangaldas & Co.; Apoorva Murali – Shardul Amarchand & Mangaldas & Co.; Arjun Perikal – Shardul Amarchand & Mangaldas & Co.; Pranav Raju – Shardul Amarchand & Mangaldas & Co.; Aishwarya Ray – Shardul Amarchand & Mangaldas & Co.; Kshitij Sharma – Shardul Amarchand & Mangaldas & Co.; Rahul Shukla – Shardul Amarchand & Mangaldas & Co.; Ritika Sood – Shardul Amarchand & Mangaldas & Co.; Roshan Thomas – Shardul Amarchand & Mangaldas & Co.; Anirudh Agarwala – Trilegal; Vatsla Bhardwaj – Trilegal; Pulkit Chaturvedi – Trilegal; Arjun Ghose – Trilegal; Sumedha Kamra – Trilegal; Nishant Parikh – Trilegal; Rahil Pereira – Trilegal; Aakriti Shakdher – Trilegal; Sneha Vardhan – Trilegal;

Law Firms: J. Sagar Associates (JSA); Khaitan & Co.; Shardul Amarchand & Mangaldas & Co.; Trilegal;

Clients: Aakash Educational Services Limited; Blackstone; Byju’s – The Learning App;

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Sonia Carcano

Author: Sonia Carcano