Bird & Bird's international corporate group is advising Viacom 18 Media on its £63.5m recommended cash offer for the issued share capital of The Indian Film Company (IFC), an AIM listed company specialising in Bollywood film production and distribution. The offer, which is being made through special purpose vehicle, Roptonal Limited, was announced on 1 October and has the backing of over 90% of IFC's shareholders.
Viacom 18 Media is a joint venture between US media giant, Viacom Inc. and Network 18 Media & Investments, a diverse Indian-listed media company. The mandate follows on from previous work undertaken by Bird & Bird for Network 18.
Commenting on the deal, Partner Simon Allport said: "This is one of two UK public company acquisitions we have been advising Indian clients on in recent months and demonstrates the increasing depth of our Indian practice. We are delighted to be guiding Viacom 18 Media through the UK takeover process and look forward to seeing the deal through to a successful conclusion."
The team is being led by Simon Allport in London, assisted by Richard Catling. The Indian Film Company is being advised by Gibson Dunn.