SAM, AZB, L&L act on $68m IDBI Fed Life sale of 23% to Ageas

IDBI Bank… said it will sell part of its stake in IDBI Federal Life Insurance to Belgian multinational insurance company Ageas Insurance and Federal Bank. Ageas will acquire 23% stake, while Federal Bank will buy 4%, the lender said in a disclosure to the stock exchanges.

— Mint

Shardul Amarchand Mangaldas & Co advised IDBI Bank Ltd led by a team of partnerAbhishek Guha, partnerRoopal Kulsrestha, CounselJagriti Mohata, associateKeegan Pavrey, associateMeghna Nachappa.

AZB & Partners advised Ageas Insurance International NV led by a team of partnersRajendra Barot and Arvind Ramesh, and senior associateRishikesh Desai.

L&L Partners advised Federal Bank Limited.

2020-08-05

Deal value: INR 595,00,00,000 (approx.)

This deal report is based on a firm’s press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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