Khaitan advises Ascendas on Flagship shares buy

Khaitan & Co advised Ascendas India Trust and its affiliates in relation to purchase of 100% issued and paid-up share capital of Flagship Developers Private Limited, along with issuance of inter-corporate deposits to Flagship Developers Private Limited.

Ascendas India Trust is a property trust which owns seven IT parks in India. With a 11.2 million sq ft portfolio spread across Bangalore, Chennai, Hyderabad and Pune, it is well positioned to capitalise on the fast-growing IT and business process management industries in India.

The core transaction team included Abhishek Sinha, Associate Partner; Tanushree Bhuwalka, (Senior Associate); Nidhi Modani (Associate); Ashima Gulati, (Associate) and Megna Sundar (Associate) with assistance from Dinesh Agrawal (Executive Director), Mayank Jain (Senior Associate) on the diligence aspects and Atul Pandey(Associate Partner) on the foreign exchange filing aspects.