Shardul Amarchand Mangaldas & Co. advises Moonfrog Labs Private Limited and Sequoia Capital in relation to the sale of 100% of its shares to Stillfront Group
March 1, 2021
Shardul Amarchand Mangaldas & Co. advised Moonfrog Labs Private Limited (along with its founders and certain shareholders) and Sequoia Capital to disinvest 100% of shares of Moonfrog to Stillfront Group in multiple tranches. The deal is valued at USD 90 million for initial tranche of 91% of the shares in Moonfrog with the consideration for the remaining 9% of the shares of Moonfrog being calculated in accordance with the terms of definitive documentation governing the deal. The transaction was closed on 26 February 2021.
The transaction team for Moonfrog (along its founders and certain shareholders) was led by Roshan Thomas, Partner; Prateek Lala, Partner and Ritwik Mukherjee, Associate. The transaction team for Sequoia was led by Apurva Rai, Partner and Ishika Goon, Associate.
DLA Piper and Trilegal advised Stillfront Group. Bird & Bird LLP advised Moonfrog (along with its founders and certain shareholders) from an English law perspective. AZB & Partners advised Tiger Global Management, LLC. Carnegie Investment Bank and Ernst & Young advised Stillfront Group on financial and tax related aspects, respectively. Oakvale Capital and Dhruva Advisors LLP advised Moonfrog (along with its founders and certain shareholders) on financial and tax aspects, respectively. PricewaterhouseCoopers advised Sequoia Capital on tax aspect.
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