AZB & Partners and S&R Associates advised on acquisition and divestment of minority stakes in CapitaLand’s India data centre assets.
AZB & Partners advised CapitaLand India Data Centre Fund Pte. Ltd., a Singapore-based private fund, on its proposed acquisition of an approximately 20% stake in three India-level special purpose vehicles holding data centre assets in India. The stake is being acquired from Ascendas Property Fund (India) Pte. Ltd., a wholly owned subsidiary of CapitaLand India Trust, a Singapore Exchange-listed real estate investment trust.
The data centre assets are located in Chennai, Mumbai and Hyderabad, and the transaction forms part of CapitaLand’s broader capital recycling and platform-level reorganisation of its India data centre business.
The AZB & Partners transaction team comprised Senior Partner Anand Shah, Partner Shriram Shah, Senior Associate Gokul Gopakumar, and Associates Jhanvi Sangani and Yashvi Bhagat, along with Articled Clerk Karan Nair. The team was supported on corporate due diligence by Senior Associates Riddhi Tulshian and Harsha Uppal, and Associates Shreeja Mukherjee and Vivek Ilawat. Real estate due diligence support was provided by Partners Dhruti Dholakia and Malini Raju, Counsel Vidhyadhare Siddappaji, Senior Associates Veeral Vakharia and Prannathi Ajith Kumar, and Associates Anmol Lilani and Himanshu Kalwani.
S&R Associates advised CapitaLand India Trust on the divestment of its minority stake in the data centre assets through its wholly owned Indian subsidiary.
The S&R team was led by Partner Raya Hazarika, and included Associates Komal Parakh, Srikari Kancherla and Oshika Nayak
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