Deal Closed | Massachusetts Institute of Technology | Acquisition of Shares

The details of the deal are as under:

Announcement Date: 25-Aug-2020

Completion Date: 25-Aug-2020

Name of Client: MIT Investment Management Company

Name and Description of Acquirer:Massachusetts Institute of Technology | USA 

Massachusetts Institute of Technology is a non-profit education and research organization.

Name and Description of Target: Matrimony.com Limited | India 

Matrimony.com Ltd is India's first pure-play Consumer Internet Company to get listed. Its flagship brand BharatMatrimony is the largest and the Most Trusted Matrimony Brand (as per the Brand Trust Report 2014). The Company provides both matchmaking and marriage related services through websites mobile sites and mobile apps and is also complemented by 145+ company-owned retail outlets. Its flagship matchmaking services are BharatMatrimony, EliteMatrimony and CommunityMatrimony.

Deal Description: Acquisition of minority stake in Matrimony.com Limited (an Indian listed company).

Total Consideration: Confidential

Team Members: The core team consisted of Siddharth Shah (Partner), Abhishek Dadoo (Partner) and Anvita Mishra (Senior Associate) with assistance from the following:

Taxation aspects: Bijal Ajinkya (Partner), Rahul Jain (Senior Associate) and Avin Jain (Associate)

Competition Law aspects: Anisha Chand (Partner) and Soham Banerjee (Senior Associate)

Role of Firm:  Khaitan & Co advised Massachusetts Institute of Technology on the acquisition of minority stake in Matrimony.com Limited (an Indian listed company)