Khaitan & Co advised and assisted Firstsource Solutions (UK) Limited (wholly owned subsidiary of Firstsource Solutions Limited, India) in relation to the 100% acquisition of Ascensos Limited (UK) ("Ascensos"), from its existing shareholders, for an aggregate consideration not exceeding GBP 42 million, on a cash free and debt free basis.
Ascensos has significant presence in the UK, with wholly owned subsidiaries located in South Africa, Romania and Trinidad and Tobago. This transaction will add a strategically important vertical for the business of FSL, with a focus on the retail sector in various geographies.
The core team consisted of Kapish Mandhyan (Partner), Vismita Gahlot (Senior Associate), Kopal Agarwal (Associate) and Vaibhav Laddha (Associate), with assistance on other transaction aspects from Reshma Abraham (Principal Associate) and Madhav Chandan (Associate).
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