Deal Corner October 21, 2015
Electra Partners sells stake in Zensar Technologies
Electra Partners Mauritius Limited, a subsidiary of Electra Private Equity Plc (“Electra Plc”) recently agreed to sell its 23.23% stake in Zensar Technologies Limited (“Zensar”), an Indian listed company to Marina Holdco (FPI) Limited, a company backed by funds advised by Apax Partners LLP (“Apax”) for a consideration of approximately USD 130 million.
Established in 1963, Zensar is a Pune based information technology services and infrastructure services provider with operations and a customer base spanning 29 global locations. Zensar is also a market leader in powering next-generation enterprises with its cloud, mobility and social media solutions.
Electra Plc is London Stock Exchange listed investment trust managed by Electra Partners LLP, a UK based independent private equity fund manager with over 25 years' experience in the mid-market segment.
Apax is also a UK-based private equity and venture capital firm with a focus on investing in the Consumer, Healthcare, Services and Techology & Telecommunications sectors.
We, at Nishith Desai Associates, acted as Indian legal, tax and regulatory counsel to the Electra group on this transaction.