Law firms JSA, IndusLaw, and A&O Shearman are engaged in a $401 million IndiGo airline divestiture deal.
In a significant move for the Indian aviation sector, Citigroup has purchased a 1.99% stake in the low-cost airline IndiGo, owned by InterGlobe Aviation, through a sale of equity shares worth 33.6 billion rupees ($401 million).
The transaction, which saw InterGlobe Enterprises part with 7,719,573 equity shares, has reduced their shareholding in InterGlobe Aviation from 37.75% to 35.76%.
On the advisory side, IndusLaw represented Citigroup, with partners Vishal Yaduvanshi, Priyadarshini Rao, and associate Abishek Sankar leading the team. Meanwhile, JSA advised Interglobe Enterprises, and the team consisted of partners Madhurima Mukherjee Saha, Shivali Singh, and associate Rishika Kharbanda.
It is worth noting that this is not the first time InterGlobe Enterprises has sold shares in IndiGo's parent company.
A&O Shearman, another legal powerhouse, was also involved in the deal, but specific details about the key partners involved in the IndiGo divestiture case are not readily available. However, A&O Shearman is known for its seamless teamwork among M&A lawyers and specialists across regulatory, financing, tax, and antitrust areas. Prominent London-based M&A partners such as Seth Jones and Matt Hamilton-Foyn have led significant deals for the firm, including the Brookfield Wealth Solutions acquisition.
InterGlobe Aviation, the parent company of IndiGo, is a significant player in the Indian aviation industry. The sale of shares to Citigroup marks a significant development in the company's ownership structure and could potentially impact its future strategies and operations.
As the deal continues to unfold, more details about the implications for both IndiGo and Citigroup are expected to emerge, providing insights into the strategic moves of these key players in the Indian aviation sector.
The legal representation of Citigroup in the IndiGo stake purchasing deal was provided by law firm IndusLaw, while JSA advised InterGlobe Enterprises.
The involvement of A&O Shearman, another legal powerhouse, in the IndiGo divestiture case suggests the complexity of financial transactions in the Indian aviation sector.
