Hogan Lovells advised Flipkart on a fundraising round that values the Indian online retailer at $37.6 billion, with its majority stakeholder
Bangalore-based Flipkart said in a statement that it also got advice from New Delhi-based law firm Shardul Amarchand Mangaldas & Co. for the $3.6 billion funding round. A Cooley team in Singapore advised SoftBank on the transaction.
Tencent Holdings Ltd., Blackstone Group Inc.-backed Antara Capital, and several sovereign wealth and pension funds also participated in the funding round.
Japan-based SoftBank, which had previously backed Flipkart and then sold its stake to Walmart, returned as a shareholder.
“SoftBank’s re-investment in Flipkart is driven by our experience with, and conviction in, the company’s management team,” said Lydia Jett, a partner at SoftBank Investment Advisers. She said SoftBank expects the team “to continue addressing the needs of the Indian consumer in the decades to come.”
Blackstone and Antara Capital didn’t immediately respond to a request for comment.
To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com
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