Shardul Amarchand Mangaldas & Co. secures unconditional Phase I approval from Competition Commission of India for Reliance Retail Ventures Limited and Reliance Retail Fashion and Lifestyle Limited’s acquisition of the retail & wholesale and logistics & warehousing business of the Future group
November 20, 2020
Shardul Amarchand Mangaldas & Co. (SAM & Co.), along with Khaitan & Co. as co-counsels, provided legal and strategic competition law advice to Reliance Retail Ventures Limited and Reliance Retail Fashion and Lifestyle Limited in relation to the merger control approval for its proposed acquisition of the retail & wholesale and logistics & warehousing business of the Future group from the Competition Commission of India (CCI). After a detailed review process, the CCI unconditionally approved the transaction in Phase 1, on 20 November 2020. This is the largest transaction involving the brick and mortar retail sector in India to date.
The Competition Law practice of SAM & Co. led the CCI process, and was involved in review of the transaction documents; preparing and filing the detailed notification form with the CCI; responding to various queries raised by the CCI and securing the unconditional approval.
The Competition Team was led by Ms. Shweta Shroff Chopra, Partner; Ms. Aparna Mehra, Partner and Ms. Manika Brar, Partner; with the team consisting of Ms. Neetu Ahlawat, Senior Associate, Mr. Kshitij Sharma, Associate, Mr. Nilav Banerjee, Associate, Ms. Ritika Sood, Associate, Mr. Shounak Banerjee, Associate and Mr. Pranav Satyam, Special Advisor. Ms. Pallavi Shroff, Managing Partner, NP Head – Dispute Resolution of the Firm provided strategic advice on the deal.
The Khaitan & Co. competition team was led by Ms. Anisha Chand.
The transaction was stewarded by our Executive Chairman, Mr. Shardul Shroff, and teams led by Ms. Puja Sondhi, Partner and Mr. Sumeet Singh, Partner with support from Mr. Promode Murugavelu, Partner.
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