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LG has secured the lead advisory role for Indian IT firm Patni Computer Systems' acquisition of Europe-based Logan Orviss International (LOI), marking LG's sixth major advisory role on an Indian M&A.
LG, which has also advised on five AIM listings by Indian companies, appointed a team of five lawyers to work on the cross-jurisdictional deal, with head of India practice Sunil Kakkad leading the team.
"We have now acted for six of the top 10 Indian technology companies by providing legal advice on exercises outside of India," says Kakkad of LG's budding Indian footprint.
Kakkad says that the firm now has the market lead in terms of AIM listings by Indian companies following the firm's increased focus in the region.
"We had monitored India for several years, and set up a dedicated India team only two and a half years ago," explains Kakkad. "But my role as head of India group has been more full time over the past 18 months.”
Patni is a relatively new client for LG following a bidding process for the company's commercial and technology-based contracts at the end of 2006. Kakkad says that the firm managed to build up its relationship with Patni's management team over the past six months, which led to LG being instructed to advise on the transaction.
LOI turned to Barlow Lyde & Gilbert (BLG) for advice on the sale. BLG used a three-man team led by senior corporate associate William Tsang, along with associate director in employment practice Jonathan Ions and corporate tax partner Ray Smith.
Kakkad's team consisted of senior associates in the corporate finance team Richard Evans and David Ponsford, senior associate in the corporate tax unit Liz Ashby, senior associate in employment team Caroline Pugh and associate in the technology unit Abbie Lewis.
Patni had moved to acquire the telecommunication consulting service provider LOI to add strength to its communications and media consulting practice, with LOI to become Patni's consulting and advisory arm post-merger.