Cyril Amarchand Mangaldas advises Morgan Stanley on USD 200 mn block trade by ANT Group in Zomato

Cyril Amarchand Mangaldas advised Morgan Stanley India Capital Private Limited (Morgan Stanley), in relation to the sale of equity shares of Zomato Limited (Zomato) by Alipay Singapore Holdings Pte. Ltd (an Alibaba Group entity) on the screen based trading platform of the BSE and the NSE. This transaction comprised a sale of about 3% stake in Zomato Limited. Morgan Stanley acted as the Broker to Alipay Singapore.

The Capital Markets Practice of Cyril Amarchand Mangaldas advised Morgan Stanley on the transaction. The transaction team was led by team was led by Gokul Rajan, Partner & Regional Head Markets Practice (North); with support from Anuj Pethia, Consultant.

The Transaction involved the sale of 262,873,507 equity shares of Zomato Limited by Alipay Singapore Holdings Pte. Ltd (an Alibaba group entity), by way of a share sale on the screen-based trading platform of the stock exchanges.

Other Parties and Advisors to the transaction included and Latham and Watkins LLP (acted as international legal counsel for Morgan Stanley).

The transaction was signed on 29th November 2022, and was closed on 2nd December 2022.