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Cyril Amarchand Mangaldas has advised PE firm Warburg Pincus on its acquisition of housing finance company Shriram Housing Finance (SHF) for 46.3 billion rupees ($556 mln) from Shriram Finance and Valiant Partners.

Shriram Finance was represented by Trilegal, while Anagram Partners counselled Valiant Partners.

Warburg Pincus will acquire the stake through its affiliate, Mango Crest Investment, from both sellers. The deal is Warburg’s largest in the Indian market.

The existing management team of SHF, led by Ravi Subramanian, managing director and chief executive officer, will continue to lead the business.

“Warburg Pincus remains excited about the affordable housing finance segment in India,” Narendra Ostawal, head of India private equity, Warburg Pincus, said in a statement.

CAM’s team was led by corporate partners Shishir Vayttaden and Aditi Singhvi, and included senior associate Reeti Agarwal and associate Suyashi Mishra. Partners Subhojit Sadhu (finance), Abe Abraham (employment), Avaantika Kakkar (competition), Anirban Mohapatra (intellectual property), Bharat Reddy (corporate), and Indranath Bishnu (insurance) assisted on the deal.

 

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