Singapore-based private equity firm L Catterton Asia is buying a 10% stake in Kishore Biyani-led Future Lifestyle Fashions for approximately Rs. 846 Crores.
L Catterton Asia is acquiring the stake in Future Lifestyle through a mix of preferential allotment and secondary purchase of shares.
Future Lifestyle is backed by PremjiInvest, which is also offloading stock worth 334 crores, reported VCCircle.
Economic Laws Practice advised Future Lifestyle Fashions with a team led by Partners Darshan Upadhyay and Bhavin Gada, along with Senior Associate Manendra Singh.
Shardul Amarchand Mangaldas is acting for L Catterton Asia with a team led by Mumbai Managing Partner Akshay Chudasama.
Cyril Amarchand Mangaldas is advising PremjiInvest with a team led by Partners Arjun Lall, Anand Jayachandran, and Maheshwari Sundaresh.