CAM, Trilegal advised on Udaan’s acquisition of Lynks Logistics, a B2B retail distribution firm and a wholly-owned subsidiary of Swiggy Networks Limited (Swiggy Networks).

The transaction is structured as a cross-border share swap, pursuant to which Swiggy Networks will transfer its entire shareholding in Lynks to Trustroot Internet Private Limited (Udaan), in exchange for a 2.8% stake in Udaan. Prior to the completion of the share swap, Swiggy Networks will transfer its B2B distribution business to Lynks under a business transfer arrangement.

The transaction values Lynks at INR 500 crores and is expected to strengthen Udaan’s presence across key consumption markets in India.

Swiggy Networks will also invest an additional INR 75 crores in Udaan.

Cyril Amarchand Mangaldas advised Udaan on its proposed acquisition of 100% of the share capital of Lynks Logistics Limited (Lynks).

The transaction was led by Partner Sharada Ramachandra, with support from Principal Associate Ankit Kumar and Senior Associate Marc Martin.

Senior Associate Anisha Keshava and Associate Jvalita Krishan, assisted with certain execution aspects of the transaction.

Partner Vijay Pratap Singh Chauhan with support from Principal Associate Rajat Sharma, and Associate Varun Singh, advised on competition law aspects of the transaction.

Trilegal advised Swiggy Networks Limited (SNL) and its wholly owned subsidiary, Lynks Logistics Limited (Lynks), on the said transaction.

Trilegal’s Corporate team advising on the mandate was led by Partners Gautam Singh and Mitali Halbe and comprised Counsel Nandita Bhakta, Senior Associates Soham Munshi, Akshay Vaddagiri, and Associates Kim Shah, and Sanjeesha Agarwal.

The Labour and Employment team was led by Parter Parvathy Tharamel and supported by Senior Associate Harshita Arora, and Associate Shreya Sharma.