Vodafone Group PLC said on Wednesday that it has sold an 18% stake in Indus Towers Ltd. of India for 153 billion rupees ($1.83 billion) as the U.K. telecommunications giant looks to finance its debt repayments.
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THURSDAY, JUNE 20, 2024 Law360 iOS App Law360 Android App Follow Law360 on Facebook Follow Law360 on LinkedIn Follow Law360 on Twitter

TOP NEWS

Vodafone Sells 18% Stake In Indian Cell Tower Biz For $1.8B

By Tom Fish

Vodafone Group PLC said on Wednesday that it has sold an 18% stake in Indus Towers Ltd. of India for 153 billion rupees ($1.83 billion) as the U.K. telecommunications giant looks to finance its debt repayments.

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Fieldfisher Steers £165M Mineral Biz Pension Deal

By Joel Poultney

Insurance giant Aviva said on Wednesday that it has completed a full retirement savings plan buy-in worth £165 million ($210 million) sponsored by mineral miner and processor Sibelco UK Ltd., in a deal guided by Fieldfisher LLP.

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Trade Body Sets Up Committee For M&A Insurance Market

By Martin Croucher

A trade body for underwriters said Wednesday that it has launched a committee on specialist insurance to cover risk associated with mergers and acquisitions, amid a surge in such policies being written from London.

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DEALS

Zurich Buys 70% Stake In Indian Insurer For $670M

By Najiyya Budaly

Swiss insurance giant Zurich said Wednesday that it has bought a 70% stake in Kotak Mahindra General Insurance for $488 million, the largest foreign investment in India's general insurance market since 2021.

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Investors Sell £43M Worth Of Helios Telecoms Shares

By Tom Fish

Helios Towers PLC said Wednesday that two stakeholders, private equity firm Newlight Partners LP and investment trust RIT Capital Partners PLC, have sold a total of £43.2 million ($55 million) of stock in the telecommunications company, which operates in Africa and the Middle East.

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DLA Piper, Florent Steer €30M Capital Raise For Pipeline Biz

By Irene Madongo

Investor HydrogenOne Capital Growth PLC said on Wednesday that hydrogen pipeline maker Strohm Holding BV, has raised €30 million ($32 million) in new funds, in a deal advised by DLA Piper and Dutch law firm Florent.

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CAPITAL MARKETS

GE Aerospace To Quit 3 European Stock Exchanges

By Irene Madongo

General Electric Co. said Wednesday that it plans to end its listing on the London, Paris and Zurich stock exchanges following an internal review after it launched after it became a standalone company.

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MERGER REVIEW

Swiss Watchdog Ends UBS-Credit Suisse Merger Controls

By Najiyya Budaly

Switzerland's financial watchdog said Wednesday that it has cleared the takeover by UBS of stricken rival Credit Suisse AG after finding that the rescue deal would not harm competition in any domestic market.

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PEOPLE

King & Spalding Hires 5 Finance Pros From Cadwalader In UK

By Ashish Sareen

King & Spalding LLP has boosted its partnership ranks in London with the hire of five finance lawyers from rival U.S. law firm Cadwalader Wickersham & Taft LLP.

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LAW FIRMS IN TODAY'S NEWS

A&O Shearman

Cadwalader Wickersham

DLA Piper

Debevoise & Plimpton

Dentons

Fieldfisher

Freshfields

Hogan Lovells

King & Spalding

King & Wood Mallesons

Paul Hastings

Technology Ventures LLC

COMPANIES IN TODAY'S NEWS

Aviva SA

Bain & Co. Inc.

CDI Corporation

Chevron Corp.

Credit Suisse Group AG

Deloitte Touche Tohmatsu Ltd.

Euronext Amsterdam NV

General Electric Co.

Indus Towers Ltd.

International Underwriting Association of London Ltd.

KKR & Co. Inc.

KPMG International

Kotak Mahindra Bank

London Stock Exchange Group PLC

Newlight Partners LP

Reserve Bank of India

SIX Swiss Exchange

UBS Group AG

Vodafone Group PLC

Zurich Insurance Group AG