The General Corporate Team of Shardul Amarchand Mangaldas advised WE Communications on all aspects of the transaction including structuring of the transaction, conducting a legal due diligence; drafting, reviewing and negotiation of the Share Purchase Agreement, Shareholders’ Agreement, Employment Agreements, Business Transfer Agreement and Debenture Subscription Agreement; and assisting with pre-closing and closing actions. The transaction team was led by Amit Kumar, partner with assistance by Varun Sehgal, Partner; and includedSunando Mukherjee, Partner; Anshul Asri; Associate; Kriti Tuteja, Associate; and Harshita Choubey, Associate. The parties involved in the transaction were Waggener Edstrom Worldwide, Inc (our Client);Avian Media Private Limited (Avian); Chase Avian Communications Private Limited (Chase) and the selling shareholders of Avian and Chase (Sellers).

As a part of the transaction, We Communications is to acquire 100% of the share capital of Avian in multiple tranches. Simultaneous to the share acquisition by WE Communications, Avian would acquire the business of Waggener Edstrom Worldwide Communications Private Limited (“WE India”), a wholly owned subsidiary of WE Communications in India, by way of slump sale. The business transfer will be facilitated by way of additional infusion of funds by WE Communications in Avian. After the first tranche acquisition of Avian by WE Communications, the transaction value for subsequent tranches of acquisition of Avian would be dependent on certain key performance related parameters.