Khaitan & Co. and Hill Dickinson advised Sterlite Technologies Limited on the transaction. Higgs LLP acted for the shareholders of Clearcomm.
Sterlite Technologies Limited and co-ordinated legal support in United Kingdom for the acquisition of Clearcomm Group Limited (a UK base Network Integration Company).
The transaction is structured in two tranches. Tranche 1 entails acquisition of 80% of ClearComm’s share capital, which will happen immediately subject to customary pre-closing conditions. The balance 20% shareholding will be acquired in 2023.
Sterlite Technologies Limited (Formerly Sterlite Tech) is a multinational technology company based in India.
The Khaitan & Co. team consisted of Partner Aravind Venugopal (Picture), Aniruddha Basu (Principal Associate) and Surabhi Vats (Associate). The Core team was assisted by Mrudul Dadhich (Principal Associate), Vaibhav Kulkarni (Associate), Vaishali Dhanawat (Associate) and Deepanshi Singh (Associate) on due diligence aspects. Hill Dickinson team included Sandip Khroud (Partner), Shantanu Sinha (Partner), Rohit Fogla (Senior Associate), and Rianne Byott (Associate) acted as UK counsels for Sterlite Technologies Limited.
Hill Dickinson’s India Desk, which advised STL on this deal, was led by its partner Sandip Khroud, senior associate Rohit Fogla and solicitor apprentice Rianne Byott from the firm’s Corporate team.
Involved fees earner: Rianne Byott – Hill Dickinson; Rohit Fogla – Hill Dickinson; Sandip Khroud – Hill Dickinson; Aniruddha Basu – Khaitan & Co.; Mrudul Dadhich – Khaitan & Co.; Vaishali Dhanawat – Khaitan & Co.; Vaibhav Kulkarni – Khaitan & Co.; Deepanshi Singh – Khaitan & Co.; Surabhi Vats – Khaitan & Co.; Aravind Venugopal – Khaitan & Co.;
Clients: Sterlite Technologies;