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Shardul Amarchand Mangaldas advises PVR Limited on Strategic Partnership with IPIC

ANI  |  New Delhi [India] 

Shardul Amarchand Mangaldas advised Limited in relation to a strategic partnership with iPic-Gold Class Entertainment, LLC (IPIC), America's luxury restaurant - and - theater company.

The partnership with IPIC will give valuable exposure in the cinema exhibition market of 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 under Indian laws and was involved in structuring of the transaction, drafting, reviewing and negotiating the documents and general corporate advisory, including advice on overseas direct investment laws of

The team was led by Akila Agrawal; Partner, and included Megha Bhargava; Principal Associate and Akshay; Associate.

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

Other advisors to the 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 and the transaction is expected to close in the next two weeks.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 04 2017. 18:26 IST