The India counsel for eBay Singapore in its investment in Flipkart Limited in Singapore, and sale of eBay India to the company, said the deal required extensive due diligence and co-ordination across various jurisdictions.
“This was because while the transfer of the shares of eBay India was conducted in India, the primary investment was to be made in Singapore,” Vivek K Chandy, partner at J. Sagar Associates (JSA) told India Business Law Journal.
The deal is one of the largest in India’s e-commerce sector to date. It involved the primary investment of approximately US$500 million by eBay into Flipkart Limited, which is the ultimate holding company of the entire Flipkart group.
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