Majmudar & Partners

1. Majmudar & Partners acted as Indian legal co-counsel to Finicity Corporation, a leading North American provider of real-time access to financial data and insights, on its sale to Mastercard (NYSE: MA) for a purchase price of US$825 million.

The matter was led by managing partner, Akil Hirani, who is a senior corporate lawyer in India, and admitted to the bar in California and England as well.

India’s company law, tax law, foreign exchange and other regulations threw-up many impediments, which the Majmudar team navigated successfully and in a timely manner to ensure a seamless execution of the deal. This was one of the largest fintech deals of 2020 and was completed when India was in a full lockdown. A big achievement in tight timelines.

2. Majmudar & Partners acted as Indian legal counsel to Cryoport, Inc. (NASDAQ: CYRX) on its acquisition of CRYOPDP Group, a leading global provider of innovative temperature-controlled logistics solutions to the clinical research, pharmaceutical and cell and gene therapy markets. The purchase price was approximately EUR49 million.

The matter was led by managing partner, Akil Hirani.

This is a very important life sciences logistics transaction, and leapfrogs NASDAQ listed Cryoport, Inc. into the top echelons of life science logistics companies. Our assistance in finding solutions to some legacy regulatory issues and deft handling of complex transaction documents was the key highlight.

3. Majmudar & Partners assisted Chart Industries Inc. (Nasdaq: GTLS), a leading manufacturer of highly engineered cryogenic equipment used in the liquid gas supply chain, on acquisition of employees of Harsco Services India Private Limited and on setting-up its information technology enabled services/ data centre in India.

The matter was led by partner and Head of Corporate/M&A, Rukshad Davar.

This transaction was a part of Chart’s global acquisition of the industrial Air-X-Changers business of Harsco Corporation (NYSE: HSC), valued at US$592 million, which has made it an important transaction.

4. Majmudar & Partners is advising Rabigh Refining & Petrochemical Company, a leading Saudi Arabian petrochemicals refiner, against a breach of contract by a UAE entity, who has an Indian Entity, against which enforcement is being sought.

The litigation is being led by disputes partner, Neerav Merchant.

This matter is challenging, complex and tricky, as there is not much evidence available to support the client’s claim against the Indian Entity, or which can help establish a nexus between the Indian Entity and the UAE Entity. This matter has required some original thinking to find a viable solution for Petro Rabigh.

5. Majmudar & Partners (M&P) has acted for Thrasio Holdings, Inc. (Thrasio), a next generation, global consumer goods company, in a complex, high value acquisition of a significant majority stake in Lifelong Online Retail Private Limited (Lifelong), a leading Indian online consumer brand backed by Tanglin Venture Partners and the Hero Group. M&P assisted Thrasio on deal structuring, legal due diligence, document drafting, and negotiations with the exiting shareholders and other counterparties. The deal was run by Managing Partner, Akil Hirani, with able support from the corporate and tax teams of the firm.  Cooley LLP advised Thrasio Holdings, Inc. on the US law aspects of the acquisition.

With this acquisition, Thrasio has made its entry into the Indian market and plans to invest approx. US$500 million in the future to acquire digital-first brands in India.

Rajaram Legal acted for Lifelong and its founders. Khaitan & Co. acted for Tanglin Venture Partners and AZB & Partners acted for the Hero Group.

6. Majmudar & Partners acts as Indian legal counsel to Five Elms Capital Management, LLC on its acquisition of minority stake in Vajro, Inc.

Five Elms Capital Management, LLC, a leading global growth equity firm that invests in fast-growing B2B software businesses, has participated in the Series A funding round of Vajro, Inc. for US$8.5 million.  Vajro, Inc., is one of the fastest growing mobile app builders for the ecommerce sector.  Majmudar & Partners advised Five Elms on the Indian law aspects of this deal.  The team from Majmudar & Partners was led by Partner and Head of the M&A Practice, Rukshad Davar.  Husch Blackwell advised Five Elms on US law aspects.

7. Majmudar & Partners acts as Indian legal counsel to N. Harris Computer Corporation on its acquisition of Allscripts Healthcare Solutions’ (NASDAQ:MDRX) hospitals and large physician practices business

N. Harris Computer Corporation, a wholly-owned subsidiary of Constellation Software, Inc. (TSX:CSU), has signed an agreement with Allscripts Healthcare Solutions (NASDAQ:MDRX) to purchase Allscript’s hospitals and large physician practices business. The deal is valued at US$700 million, including a continent performance-linked price of up to US$30 million.

Majmudar & Partners advised on the Indian law aspects of this deal, including corporate, foreign exchange, antitrust, intellectual property and tax, and assisted in finalizing the transaction documents. The team from Majmudar & Partners was led by Akil Hirani (Managing Partner and Head of Transactions).