Vivek specialises in the areas of private equity, mergers and acquisitions and corporate commercial work and currently Chairs the Private Equity Practice of J Sagar Associates. Vivek has worked extensively in the software and services sectors as well as hospitality, healthcare, biotechnology, manufacturing and entertainment industries, advising on a wide range of issues from acquisitions to structuring transactions. Vivek also routinely represents clients in real estate transactions, including leasing and sale transactions.
Vivek’s clients include listed real estate investment trusts offshore and private equity funds which are in the process of setting up real estate investment trusts offshore. As part of his private equity practice, Vivek routinely advises clients regarding the structuring of investments, including setting up of real estate investment trusts.
KEY REPRESENTATIVE TRANSACTIONS ARE:
Advised Qatar Holdings in its investment in RMZ Infotech Private Limited, one of the largest real estate companies in Bangalore, India. The transaction involved investment in equity and debt securities of the target company and the scope of work encompassed structuring the investments, conducting due diligence and drafting and negotiating transaction documents. The total investment made by Qatar Holdings was approximately INR 12.4 billion.
Advised Facebook in their first acquisition of a company in India. Facebook acquired 100% of the share capital of Little Eye Software Labs Private Limited, a mobile software analytics company based in Bangalore.
Advised TVS Logistics Services Limited (TVS”) and its promoters in connection with the proposed acquisition of the shares of TVS by CDPQ from Goldman Sachs and KKR. The transaction also involved acquisition of certain shares by one of the promoters from Goldman Sachs and KKR. The total deal value is approximately INR 1,000 crores. The scope involved structuring the transaction and negotiating the definitive documents with the various stake holders. The closing of the transaction is proposed after obtaining the necessary approvals from the Competition Commission of India
Advised eBay in relation to its investment into Flipkart Limited and sale of eBay India to Flipkart Limited. The aggregate value of eBay’s investment in Flipkart Limited would be approximately USD 735,000,000. The deal also includes investments by Microsoft and Tencent, and the total funding raised by Flipkart is approximately USD 1,400,000,000, which makes it the largest e-commerce deal in India.
Advised eBay in its strategic investment in the securities of Jasper Infotech Private Limited, an Indian company which operates the fastest growing marketplace model website in India. The investment has been made in two rounds, by subscription to compulsorily convertible instruments.
Advised and assisted Amazon in relation to its acquisition of 20% stake (through primary acquisition) in A&A Dukaan Financial Services Private Limited (which company operates the website www.bankbazaar.com) for US$ 40 million.
Advised Embassy Group in connection with its transaction with WeWork whereby Embassy Group and WeWork will establish, operate and manage real estate properties in India as shared workspaces.
Advised Amazon in connection with its investment in the securities of Sarvaloka Services On Call Private Limited (which company operates the website www.housejoy.com), as part of a Series B funding round aggregating to Rs. 1.5 billion.
Advising Symphony Teleca Corporation India Private Limited in relation to their acquisition of Aditi Technologies Private Limited (“Aditi”). Aditi is inter alia engaged in software engineering and product development. The transaction involves the purchase of the entire outstanding share capital of Aditi from its resident and non-resident shareholders.
Advised Temasek Holdings in connection with their investment into equity shares of HealthCare Global Enterprises Limited, a company engaged primarily in the cancer treatment space. The investment included subscription to equity shares of the target company as well as purchase of equity shares of the target company from existing investors/shareholders.
Advised Temasek Holdings in connection with the financing to PCR Investments Limited, the promoter entity of Apollo Hospital Enterprises Limited, by way of subscription to secured, to be listed, rated, redeemable non-convertible debentures of the aggregate nominal value of INR 3500 million.
Advised Elbit Imaging and its subsidiary Plaza Centers, in connection with their sale of the securities of Anuttam Developers Private Limited to Nitesh Indiranagar Retail Private Limited, a Nitesh Group company, for an aggregate consideration of Rs. 250 crores. Anuttam Developers Private Limited is engaged in the construction-development business, and is operating the Koregaon Park Plaza Mall in Pune, Maharashtra. Prior to the sale, Anuttam Developers Private Limited issued listed non-convertible debentures to Goldman Sachs.
Advised Red Fort Capital (in connection with its existing equity linked rights available under a shareholders’ agreement previously executed by Red Fort Capital) in connection with the financing availed by Parsvnath Estate Developers Private Limited (a company in which Red Fort
Capital has equity participation), by way of issuance of secured, to be listed, non-convertible debentures for development of a real estate project.
Assisted the Vaswani Group in their receipt of investment by JP Morgan into a real estate project being developed by the Vaswani Group.
Assisted CareFusion in the India leg of their purchase of the consumable medical products business of GE Healthcare.
Advised and assisted Juniper Networks India Private Limited in connection with the sale of Junos Pulse business to Pulse Secure Technologies (India) Private Limited.
Advised Symphony Services Corporation India Private Limited in connection with the sale of their SMS business to Tangoe India Softek Services Private Limited.
Advised Ground Truth for a Delaware merger upon completion of which shareholders of Umber Inc (target) would become shareholders of Ground Truth (acquirer). The scope of work included conducting a limited due diligence on Umber India and advising on necessary compliances, review of specific provisions in the transaction document pertaining to Umber India and advising on the same.
Advising IDFC in relation to their proposed investment in Nitesh Estates Limited.
Represented Waste Management group (“WM”) in the acquisition of the assets and employees of Sky Logistics Private Limited by WM’s Indian subsidiary (including structuring, drafting and reviewing of documents) and providing other general corporate and employment advice to WM.
Advised TVS Logistics Services Limited (“TVSLSL”) in connection with a first round funding by KKR and a simultaneous second round funding by Goldman Sachs into TVSLSL. The aggregate amount of funding by KKR and GS would be INR 2,688 million. The transaction involved a vendor due diligence on TVSLSL and its Indian subsidiaries, and drafting, negotiating and finalizing the transaction documents.
Acted for Goldman Sachs Services Private Limited in documenting a transaction where under Goldman Sachs has committed to take 1,500,000 million square feet of office space from a local developer. This is the largest committed commercial real estate transaction entered into in India.
Advised a London based real estate fund in relation to its investments in compulsorily convertible preference shares issued by a large real estate developer in South India.
Advised Nafasi Investment Fund Limited in connection with an investment made by it through a special purpose vehicle, by subscriibin to 10,50,00,000 compulsorily convertible preference shares of Ozone Infra Developers Private Limited issued on a private placement basis.
Represented private equity fund, Red Fort, in their investment of INR 2500 Million in a residential project being undertaken by Omkar Realtors in Mumbai’s Malad which is a slum rehabilitation project.
Advising Reliance Capital Limited and Reliance Capital Asset Management Limited in connection with their secured debt investments in various real estate projects in Bangalore.
Advised & assisted Superior Investments Pte. Ltd and HDFC Investment Trust II, in connection with the investment of INR 600 Million for the development of a residential project in Whitefield, Bangalore by Sterling Gated Community Private Limited.
Advised & assisted Piramal Enterprises Limited (Piramal), in connection with an investment of INR 650 Million, for the development of a residential cum commercial project admeasuring approximately 6,30,000 square feet on Sarjapur Road, Bangalore by Krishna E Campus Private Limited (KECPL), an affiliate of KMB Estates.
Advising AMIF I Limited (a company incorporated in Mauritius), a fund managed by OZ Management, LLC (a hedge fund based in the United States of America) on its acquisitions in Pune, Goa and Calcutta.
Advising Deloitte on acquisition of approximately 2,000,000 sq.ft. space of office space in Gurgaon, Hyderabad and Bangalore which includes 300,000 sq.ft. built to suit facility in Bangalore and 1,200,000 sq.ft. of proposed built to suit facility in Hyderabad.
Advising Symphony Services on their lease of a campus space in Bangalore and Pune.
Advising Accenture on their lease of commercial space in Bangalore.
Advising ANZ on their lease of commercial space in Bangalore.
Advised Juniper on taking 800,000 sq.ft. of built space in Exora Business Park.
Acted for Thomson Reuters to lease approximately 850,000 sq. ft. of built space in Bangalore and Hyderabad for their operations.
Advised Mercedes Benz Research & Development India Private Limited in its recent leases in Bangalore and Pune for approximately 500,000 sq. ft..
Advised Cisco in relation to its campus development project in Bangalore where Cisco has the right to purchase or take on lease upto 1,400,000 sq. ft. of space. Also negotiated documents in respect of over 500,000 sq. ft. of office space taken by Cisco in other parts of Bangalore.
Advised a US based listed REIT on several transactions in India including the recent sale of a subsidiary in Hyderabad, India engaged in the development of a hospital, to Quality Care India Limited.
Advised Hewlett Packard in relation to the acquisition of its campus in Bangalore.
Advising Nitesh Estates Limited in acquisition of various properties in Bangalore through joint development arrangements with the landowners.
Advising Marvel Developers Private Limited in various property related matters including acquisition and leasing in Bangalore and Pune.
Advised Great West Global Business Services India Private Limited on their lease of commercial space in Bangalore.
Advised Sonus Networks India Private Limited on their lease of commercial space in Bangalore.
Advised and represented Cancer Treatment Services International, Inc. and its subsidiaries in Mauritius and India, in relation to an investment by TPG Growth Fund, for a sum of approximately USD 33 million.
Advised Secom Medical Systems and Toyota Tsusho Corporation in relation to their acquisition of the entire stake held by their joint venture partner, VSK Holdings Private Limited (a part of the Vikram Kirloskar Group) in Takshasila Hospitals Operating Private Limited, which operates the Sakra World Hospital in Bangalore.
Acting on behalf of Swissotel in preparing documentation to manage a hotel and serviced apartments in Noida.
Negotiated operation and management agreements with the Four Seasons Group on behalf of City View Bangalore Properties Private Limited, a subsidiary of Whitehall Fund managed by Goldman Sachs that is in the process of developing a five star hotel and private residences in Bangalore and subsequently advised Goldman Sachs in the sale of its stake in City View Bangalore Properties Private Limited to Blackstone and Embassy.
Advised a client on its proposed agreement with Starwood Hotels for the operation and management of a luxury hotel in Bangalore.
Advised a Bangalore based developer who entered into an agreement with Frasers Hospitality for management of service apartments in Bangalore.