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Indian law firm Cyril Amarchand Mangaldas has advised BNP Paribas in relation to its exit from brokerage unit Sharekhan Group by way of a 100 percent stake sale to Korean investment banking and brokerage firm Mirae Asset Group for $370 million.

Mirae Asset is acquiring a 72.8% stake in Sharekhan for around 288 billion won ($220 million) from BNP Paribas. Separately, it would also be acquiring a 99.9 percent stake in India's Human Value Developers for around 199 billion won. Human Value Developers owns a 27.24 percent stake in Sharekhan.

The transaction team at CAM was led by partners Shishir Vayttaden and K Aishwarya. Partners Arun Prabhu and Anirban Mohapatra advised on technology, privacy and intellectual property-related issues. Employment partner Ankita Ray, real estate partner Rishiraj Bhatt, antitrust partner Kirthi Srinivas, tax partner SR Patnaik and financing partner Subhojit Sadhu also supported the deal.

 

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