news

Trilegal has advised Exide Industries’ life insurance subsidiary, Exide Life, on its 67-billion-rupee ($915 million) sale to HDFC Life Insurance Company, which was represented by AZB & Partners.

Exide Industries, the largest manufacturer of lead-acid storage batteries in India, established Bengaluru-based Exide Life Insurance Company in 2001.

According to Reuters, the deal is among the biggest yet in a sector where competition is heating up.

As part of the deal, HDFC Life will issue 87 million shares to Exide Industries and pay 7.26 billion rupees in cash, Reuters added.

Partners Sridhar Gorthi and Ashwyn Misra led the Trilegal team.

 

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

Related Articles

Deals

AZB, Khaitan, SAM guide Sterlite-GIC $1 bln power JV

by Nimitt Dixit |

Indian law firms AZB & Partners and Khaitan & Co have advised energy company Sterlite Power and Shardul Amarchand Mangaldas has represented Singapore sovereign wealth fund GIC on the creation of their joint venture to build a power transmission platform in India.

Appointments

AZB hires NDA employment head, Poovayya disputes partner

by Nimitt Dixit |

Indian law firm AZB & Partners has made its first partner hires of the year with Vikram Shroff, former head of the employment and labour practice at Nishith Desai Associates, joining in Mumbai, and disputes partner Mrinal Shankar joining from Poovayya & Co in Bengaluru.

Other News

AZB launches Taiwan desk to support growing India-Taiwan business

by Nimitt Dixit |

Indian law firm AZB & Partners has launched a Taiwan desk, citing the “growing significance of Taiwan as a trading partner of India.” The desk will be led by head of the firm’s Chennai office, Aarthi Sivanandh.