Khaitan & Co advises PokerBaazi and its existing shareholders including founders on Nazara's strategic investment as well acquisition of 48% stake in PokerBaazi for a total consideration of INR 995 crore (USD 119 million).
Nazara Technologies Limited (Nazara) has entered into agreements with Moonshine Technology Private Limited (PokerBaazi) and its existing shareholders to infuse primary capital of INR 150 crores as well as acquire 48% stake in PokerBaazi for INR 845 crores from its existing shareholders including founders through a combination of cash and stock as a strategic acquisition. Through this acquisition, the parties aim to accelerate the growth in skill based online gaming space.
The core team consisted of Prasenjit Chakravarti (Partner), Nitish Goel (Partner), Govinda Toshniwal (Counsel), Sanjana Bhatnagar (Principal Associate), Vishakha Singh (Principal Associate), Surabhi Vats (Senior Associate) and Mohnish Singh (Associate) with assistance from:
Taxation aspects: Ritu Shaktawat (Partner) and Sudipta Bhattacharjee (Partner).
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