AZB & Partners is acting as the counsel for the promoters of Route Mobile in the proposed transaction involving the following:
(a) Acquisition by Proximus Opal of a controlling stake (57.56%) in Route Mobile from the founding shareholders of the company for a cash consideration of INR 59,224 million (EUR ∼643 million). This transaction will trigger a mandatory takeover offer for up to 26% of the total shares outstanding of Route Mobile at the same price per share as offered to the promoters;
(b) A reinvestment of EUR ∼299.6 million by some of the founding shareholders of Route Mobile, for a minority stake of up to 14.5% of Proximus Opal.
The deal team comprised of Vaidhyanadhan Iyer and Roxanne Anderson, Senior Partners, Devika Nayak and Farah Titina, Senior Associates and Ayushi Berry, Shivam Gupta, Yashaswi Rohra and Aryan Khanna, Associates.