Shearman & Sterling and Shardul Amarchand Mangaldas have advised GE on the sale of the financial service businesses of GE Capital India to a a buyer group represented by Cyril Amarchand Mangaldas and Allen & Overy.

The buyer, Plutus Financials, was set up by former GE veterans Pramod Bhasin and Anil Chawla, and is backed by Aion Capital Partners, a joint venture between US buyout giant Apollo Global Management and ICICI Venture. 

The deal value was not officially disclosed but insiders believe it to be around $330 million, according to reports in local media. 

The Shearman & Sterling team working on the deal was led by partner Sidharth Bhasin.

Related Articles

Offshore firm Appleby makes banking hire in HK from Mourant

by Charlie Wu 吴卓言 |

Offshore law firm Appleby has added banking and finance expert Lily Miao as a partner in its Hong Kong office from rival Mourant Ozannes, where she was a counsel.

GS exec director joins Trilegal in Mumbai

by Nimitt Dixit |

Pallavi Banerjee, most recently executive director and senior legal counsel at Goldman Sachs, is moving back to law firm practice as a banking and finance partner in Indian law firm Trilegal’s Mumbai office.

Mayer Brown nabs banking lawyer in SG from NRF

by Mari Iwata |

U.S. law firm Mayer Brown has hired banking and financing specialist Janelene Chen as a partner in Singapore from Norton Rose Fulbright.