Trilegal, Cyril Amarchand Mangaldas (CAM), Latham & Watkins, AZB & Partners, Macfarlanes and Equilex advise on US$1.65 billion Rajasthan Royals acquisition.

The Mittal family and Adar Poonawalla-led buyer consortium have entered into a transaction involving the acquisition of interests associated with the Rajasthan Royals franchise structure, including Rajasthan Royals, Barbados Royals and Paarl Royals.

The transaction involved multiple buyer and seller consortium entities, with Indian and international counsel advising on cross-border structuring, diligence, disclosures, transaction documentation and related regulatory matters.

Trilegal advised the Mittal family on the acquisition.

The transaction team was led by Partner Nishant Parikh, Partner Arnav Dayal and Partner Mitali Halbe, with support from other teams on various aspects of the transaction.

Cyril Amarchand Mangaldas advised Adar Poonawalla on the acquisition.

The transaction team was led by Partner Iqbal Khan and Partner Ashid Basheer, with support from Principal Associate Subbalaxmi S, Senior Associate Shefali Murthy, and Associates Gunjan Singh, Raviraj Zinzuvadia, Mallika Bhaskar and Khushi Jaffar.

Partner and Head – Intellectual Property Swati Sharma, with support from Senior Associate Andri Shukla, advised on intellectual property aspects of the transaction.

Partner and Co-Head – White Collar & Investigation Ankoosh K Mehta advised on disputes aspects of the transaction.

Latham & Watkins acted as international legal counsel to the buyer consortium.

AZB & Partners advised Manoj Badale and the seller consortium on the transaction.

Macfarlanes acted as international legal counsel to the seller consortium.

Equilex acted as primary legal counsel to the sellers and target group entities, assisting through all stages of the bidding process, diligence, preparation of the data room, negotiation and finalisation of transaction documents, and disclosure processes for Rajasthan Royals, Barbados Royals and Paarl Royals. The firm worked alongside Macfarlanes, CMS and AZB & Partners in relation to Indian franchise compliance and transaction execution matters.

The Equilex team was led by Managing Partner Deep Roy, with support from Partner Nupur Malde, and team members Jyotí Singh, Disha Mohanty, Aakanksha Rajput, Prerna Khatri and Anuj Lakhotiya.