Skip to main content

AZB & Partners has advised Insurance Australia Group (IAG) on the $439 million sale of its 26 percent stake in India’s SBI General Insurance, represented by Shardul Amarchand Mangaldas, to Premji Invest’s Napean Opportunities and a Warburg Pincus affiliate.

The buyers were counselled by Cyril Amarchand Mangaldas.

Premji Invest and the Warburg Pincus affiliate will buy 16.01 percent and 9.99 percent interests in SBI General, respectively, IAG said in a statement. According to Reuters, IAG had flagged discussions for the sale in August during its annual results, which had missed market expectations due to higher natural disaster claims.

SBI General was established in 2009 as a joint venture with State Bank of India.

The AZB team was led by partners Rajendra Barot and Arvind Ramesh.

 

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

Related Articles

Deals

Khaitan, JSA, Hogan Lovells guide $515 mln Waaree IPO

by Nimitt Dixit |

Khaitan & Co has advised Waaree Energies, India's largest manufacturer and exporter of solar modules, on its $515 million initial public offering, with JSA Advocates & Solicitors and Hogan Lovells guiding the bookrunning lead managers.

Deals

CAM, Khaitan guide Adani-backed Renew Exim’s $380 mln ITD acquisition

by Nimitt Dixit |

Cyril Amarchand Mangaldas has advised Adani Group's Dubai-based firm Renew Exim DMCC on its acquisition of a 46.64 percent stake in ITD Cementation India for around $380 million from Italian-Thai Development Public Company, who was represented by Khaitan & Co.

Deals

CAM, AZB, SAM, Latham advise on landmark $1.3 bln Swiggy IPO

by Nimitt Dixit |

Cyril Amarchand Mangaldas is advising SoftBank-backed Indian food and grocery delivery giant Swiggy on its much-anticipated initial public offering worth $1.3 billion, with AZB & Partners and Latham & Watkins advising the bookrunning lead managers.