Cyril Amarchand Mangaldas Advised Quess Corp in Sale of Qdigi Services Shares
Cyril Amarchand Mangaldas Advised Quess Corp in Sale of Qdigi Services Shares
In a significant move set to reshape the landscape of gadget and appliance support services, Cyril Amarchand Mangaldas advised Quess Corp in its proposed sale of 100% shares of Qdigi Services Limited, a wholly-owned subsidiary to Onsite Electro Services Private Limited. The transaction also involves Quess Corp making a minority investment in Onsite as part of the deal.
Qdigi Services Limited, renowned for its expertise in resolving a diverse array of device-related damages spanning from TVs to refrigerators, washing machines, air conditioners, desktop PCs, and cameras, stands as a go-to destination for consumers seeking reliable repairs. Complementing this, Onsite Electro Services Private Limited emerges as a leading provider of comprehensive extended warranty and damage protection programs for mobile phones, tablets, laptops, cameras, TVs, and other appliances, ensuring holistic after-sales solutions for consumers.
The General Corporate team of Cyril Amarchand Mangaldas spearheaded the advisory process, with Suvojit Halder, Partner, leading the transaction team. Aarthi Sashikumar, Senior Associate, and Aiyush Gupta, Associate, provided invaluable support in navigating the complexities of the transaction.
The transaction, signed on February 6, 2024, is subject to customary conditions precedent, with the closing anticipated before March 31, 2024. Trilegal provided counsel to Onsite Electro Services Private Limited, while Ernst & Young served as the investment banker for Quess Corp Limited, further facilitating the seamless execution of the transaction.
This strategic move underscores Quess Corp Limited's commitment to optimizing its portfolio and capitalizing on emerging opportunities in the ever-evolving consumer electronics and appliance industry. With Cyril Amarchand Mangaldas at the helm, the transaction is poised to set new benchmarks in corporate advisory and M&A excellence.
