Cyril Amarchand Mangaldas and Talwar Thakore & Associates have represented Bharti AXA General Insurance and Bharti General Ventures on the demerger of Bharti AXA’s general insurance business with ICICI Lombard General Insurance, which was counselled by AZB & Partners.

As part of the transaction, ICICI Lombard will issue 44.85 billion rupees ($607 million) worth of equity shares to Bharti AXA’s shareholders. entirely in the form of ICICI Lombard shares. At present, promoter ICICI Bank holds 51.89 percent stake in ICICI Lombard, while the rest is with the public. After the proposed deal, promoter stake will come down to 48.11 percent, according to Mint.

The CAM team was led by partners Shishir Vayttaden, Dhruv Singhal, Indranath Bishnu, Avaantika Kakkar, Vijay Pratap Singh Chauhan and Komal Gupta.

 

To contact the editorial team, please email ALBEditor@thomsonreuters.com.

Related Articles

Deals

Weil, Wong & Partners guide $2.6 bln Malaysia airport deal

by Nimitt Dixit |

U.S law firm Weil, Gotshal & Manges and Wong & Partners, Baker McKenzie’s Malaysia member firm, have guided investment firm Global Infrastructure Partners (GIP) and a consortium led by Khazanah Nasional Bhd, respectively, on a $2.6 billion take-private offer for Malaysia Airports Holdings (MAH).

Appointments

Nishimura continues SEA growth with energy partner

by Nimitt Dixit |

Japanese Big Six law firm Nishimura & Asahi has continued the planned expansion of its Southeast Asia offerings with the addition of energy-focused finance and M&A partner Sean Conaty.

Deals

GT, Goodwin act as Japan's Ono buys U.S. drugmaker for $2.4 bln

by Asian Legal Business《亚洲法律杂志》 |

Greenberg Traurig has represented Japan’s Ono Pharmaceutical Co on its $2.4 billion acquisition of  U.S.-based cancer drugmaker Deciphera, which was advised by Goodwin Procter.