Shardul Amarchand Mangaldas & Co (SAM & Co) advised Walmart on its acquisition of majority stake in India’s largest online retailer Flipkart Ltd. For USD 16 billion deal. Walmart’s investment includes $2 billion in new equity funding. The deal values Flipkart at USD 20.8 billion.

The General Corporate, Competition Law, Banking & Finance, IPR and Tax Practices of ShardulAmarchandMangaldas advised on the transaction. The SAM & Co Team was led by Pallavi Shroff, Managing Partner, Shardul Amarchand Mangaldas.

The M&A Transaction team was led by Raghubir Menon, Regional Practice Head – Mumbai, M&A and PE, GC; and key Partners involved in the transaction were Ekta Gupta, Puja Sondhi, Natashaa Shroff, Abhishek Guha, Aayush Kapoor, and Siddharth Nair. Shilpa Mankar Ahluwalia, Partner; and Shubhangi Garg, Partner; provided General Corporate advisory. The Competition Law Practice team was led by Shweta Shroff Chopra, Partner. The Tax Practice team was led by Amit Singhania, Partner. The IPR Team was led by Mukul Baveja, Partner.

As a part of the transaction, an affiliate of Walmart will acquire 77 percent stake in the Singapore based holding firm of Flipkart. The remainder of the business will be held by Flipkart’s existing holders, including co-founder Binny Bansal, Tencent Holdings, Tiger Global Management and Microsoft, who comes in as Walmart’s technology partner.