Khaitan & Co. advised Dentsu Inc. and Dentsu Media and Holdings India Private Limited (“Dentsu”) in relation to acquisition of 100% stake in Webchutney Studio Private Limited, a digital advertising agency. The Firm acted as Indian legal counsel to Dentsu Inc. and Dentsu Media and Holdings India Private Limited in diligence, deal documentation, negotiation, and provided Indian law advice. This transaction involves a complex structure for an earn out with an exit for promoters in various tranches. It is a successful buyout by Dentsu after it having rejected a few assets in this sector. Rabindra Jhunjhunwala led the transaction with assistance from Daksha Baxi, Executive Director, Direct Tax; Devidas Banerji, Banking Team; Chakrapani Misra, Litigation Team & Avaantika Kakkar, Competition Law Team.