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Shardul Amarchand Mangaldas & Co. (SAM & Co.)

Shardul Amarchand Mangaldas Advises PVR Limited on Strategic Partnership with iPic-Gold Class Entertainment, LLC

Dec 04, 2017   17:13 IST 
New Delhi | Mumbai, Maharashtra, India

Shardul Amarchand Mangaldas advised PVR Limited in relation to strategic partnership between PVR Limited and iPic-Gold Class Entertainment, LLC (IPIC). IPIC is America's premier luxury restaurant - and - theater company. The partnership with IPIC will give PVR valuable exposure in the cinema exhibition market of USA. IPIC’s current shareholders include iPic Holdings, LLC, Village Roadshow (Australia’s largest cinema exhibitor), Regal Cinemas (one of USA’s largest cinema exhibition chain) and Retirement System of Alabama (a large state pension fund).


The General Corporate Team of Shardul Amarchand Mangaldas acted as the advisor to PVR under Indian laws and was involved in structuring of the transaction, drafting, reviewing and negotiating the transaction documents and general corporate advisory, including advice on overseas direct investment laws of India. The Transaction team was led by Ms. Akila Agrawal; Partner, and included Ms. Megha Bhargava; Principal Associate and Mr. Akshay; Associate.


As a part of the transaction, PVR Limited is acquiring a minority stake in IPIC. In addition, IPIC has agreed to appoint Mr. Ajay Bijli, Chairman and Managing Director of PVR, to its Board of Directors.


Other advisors to the transaction were Fried, Frank, Harris, Shriver & Jacobson LLP (legal advisor to IPIC); and Eckert Seamans Cherin & Mellott, LLC (legal advisor to PVR under US laws)


The deal was signed on November 27, 2017 and the transaction is expected to close in the next 1-2 weeks.


About Shardul Amarchand Mangaldas & Co.

Shardul Amarchand Mangaldas & Co. (SAM & Co.), founded on almost a century of legal achievement, is one of India’s leading full-service law firms. The firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation and collaboration. SAM & Co. is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & bankruptcy, dispute resolution, capital markets, banking & finance and projects & infrastructure.


We have a Pan-India presence and we have been at the helm of major headline transactions and litigations in all sectors, besides advising major multinational corporates on their entry into the Indian market and their business strategy. Currently, the Firm has over 521 lawyers, including 103 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru and Chennai. 

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