Ropes & Gray Represents Baring Private Equity Asia in Purchasing a 30% Stake in NIIT Technologies Limited
Ropes & Gray represented Baring Private Equity Asia in its purchase of approximately 18.85 million NIIT Technologies Limited shares—approximately 30% shareholding on a fully diluted basis in NIIT Technologies—from NIIT Limited and other promoter entities at a price of INR 1394 per share. The aggregate consideration for purchase of shares from promoter entities is estimated to be approximately INR 2627 crores (US$ 381 million at INR / USD exchange rate of 69). The transaction, announced on April 7, is subject to customary closing conditions and regulatory approvals.
NIIT Limited is a leading skills and talent development corporation that offers training and development solutions to individuals, enterprises and institutions. The company ranks among the world's leading training companies owing to its comprehensive array of talent development programs.
The Ropes & Gray team was led by private equity partner Neill Jakobe, antitrust partner Ruchit Patel, securities & public companies partner Zachary Blume, antitrust counsel Deidre Johnson and associates David Dowling, Anna Pugh and Andrew Pomranke.