AZB & Partners advised Bharti group entities and 360 ONE funds on Prudential’s proposed acquisition of 75% stake in Bharti Life Insurance
The leading law firm in India, AZB & Partners acted for Bharti Life Ventures Private Limited, Bharti Life Insurance Company Limited and 360 ONE Private Equity funds in connection with Prudential Corporation Holdings Limited’s proposed acquisition of a 75% stake in Bharti Life Insurance from Bharti Life Ventures Private Limited and 360 ONE Private Equity funds, in a transaction valued in excess of INR 3,500 crores. Bharti is expected to retain a 25% stake in the company post completion.
The transaction is among the largest control acquisitions in the Indian insurance sector by a foreign investor following recent liberalisation of the FDI regime and involves Prudential’s strategic repositioning of its India insurance business. AZB & Partners advised on all aspects of the transaction, including structuring, drafting, negotiation and finalisation of transaction documentation.
The AZB team advising Bharti Life Insurance Company Limited and Bharti Life Ventures Private Limited was led by Anil Kasturi (Senior Partner) and Niladri Maulik (Senior Partner), with support from Rohit Dutta (Counsel), Purvi Lhila (Senior Associate), Nitin Kumar Verma (Associate), Maitreyi Singh (Associate) and Syed Mohd Waquar (Associate). Competition law aspects were advised by Hemangini Dadwal (Senior Partner), Ojasvi Mishra (Senior Associate), Palak Jagetia (Associate) and Aryan Naagar (Associate).
The Firm also advised 360 ONE Private Equity funds on the transaction, including structuring, drafting, negotiation and documentation in relation to the sale of their stake in Bharti Life Insurance Company Limited to Prudential. This mandate was led by Nandita Govind (Senior Partner) and Anshuman Vikram Singh (Partner), with support from Mohit Sharma (Senior Associate).
Click to know more about AZB & Partners
If you have a news or deal publication or would like to collaborate on content, columns, or article publications, connect with the Legal Era News Network Team and email us at [email protected] or call us on +91 8879634922.