Deal Closed | White Oak Capital | Acquisition of Yes Mutual Fund
Details of the deal are as under
Sector: Financial Services
Announcement Date: 21-Aug-2020
Name of Client: White Oak Capital
Name of Acquirer: GPL Finance and Investments Limited (White Oak Group) | India GPL Finance and Investments Limited, a subsidiary of the White Oak Group acquired the mutual fund business of Yes Bank Limited
Name of Seller: Seller Yes Bank Limited | India
Name of Targets: Yes Mutual Fund; Yes Trustee Limited; Yes Asset Management (India) Limited
Deal Description: Advised White Oak Group and GPL Finance & Investments Limited (a subsidiary of the White Oak Group), in relation to 100% buyout of Yes Mutual Fund by acquisition of 100% of: (i) Yes Asset Management (India) Limited and (ii) Yes Trustee Limited by GPL Finance & Investments Limited
Total Consideration: Confidential
Team Members: The core team was jointly led by Niren Patel (Partner) and Siddharth Shah (Partner) along with Rohit Jayaraman (Principal Associate) and Kaushiki Agarwal (Associate) with assistance from the following:
Due Diligence aspects:
-Corporate & Commercial DD: Kriti Gangwar (Associate), Ravali Rayaprolu (Associate) and Rohit Beerapalli (Associate);
-Intellectual Property DD: Nishad Nadkarni (Associate) and Khushboo Jhunjhunwala (Associate); and
-Employment Law DD: Anshul Prakash (Partner), Deepak Kumar (Principal Associate) and Deeksha Malik (Associate). Competition Law aspects: Anisha Chand (Partner), Anmol Awasthi (Associate) and Arvind Pillai (Associate)
Role of Firm: Khaitan & Co advised the acquirer, White Oak Group and GPL Finance & Investments Limited (a subsidiary of the Prash
Financial Advisors: PwC was the tax and financial advisor for GPL Finance & Investments Limited
Other legal advisors: Samvad Partners represented Yes Bank Limited.
Unique Feature of Transaction: Acquisition of a mutual fund/ asset management company by a NBFC registered with RBI.
