Hogan Lovells represents Facebook in $US5.7 billion investment in Jio Platforms Limited
Silicon Valley, 23 April 2020 – International law firm Hogan Lovells represented social media company Facebook in a US$5.7 billion investment for a 9.99% stake in Jio Platforms, the biggest telecom operator in India and a subsidiary of multinational conglomerate Reliance Industries.
The Hogan Lovells team was led by Silicon Valley Corporate partners Jane Ross and Nate Gallon, Denver senior associate Brittany Raway, and Silicon Valley associate Ariel Keller. Washington D.C.-based Global Regulatory partners Beth Peters and Ajay Kuntamukkala, senior associate Deborah Wei, and associate Cayla Ebert advised on trade matters.
Facebook’s investment in Jio is reported to be the largest minority tech investment in history, and the largest foreign direct investment in the Indian tech sector. The Hogan Lovells Silicon Valley Technology M&A team advised Walmart in another of the largest tech transactions in India, when it acquired a majority stake in Flipkart for US$16 billion. Between the Jio investment and Facebook’s US$19 billion acquisition of WhatsApp, Jane Ross has represented Facebook in its two largest transactions to date.