Shardul Amarchand Mangaldas & Co. advised Carlyle on the sale of its stake in Yes Bank Limited to Sumitomo Mitsui Banking Corporation
The Leading Law firm in India, Shardul Amarchand Mangaldas & Co. (SAM) advised CA Basque Investments, an affiliate of Carlyle, on the sale of its entire shareholding in Yes Bank Limited (“Yes Bank”) to Sumitomo Mitsui Banking Corporation (“SMBC”) for approximately USD 325 million.
This deal marks a significant cross-border transaction in the Indian banking sector, underscoring continued global investor interest and strategic consolidation in the country’s financial services industry.
SAM acted as legal counsel to Carlyle and advised on the regulatory framework, transaction structuring, drafting and negotiation of the share purchase agreement and ancillary documents, as well as execution and closing actions.
The Shardul Amarchand Mangaldas & Co.team was led by Abhishek Guha (Partner), with support from Tanya Uppal (Partner), Veena Sivaramakrishnan (Partner), Mohit Bhatia (Partner), Kanwardeep Singh Kapany (Counsel), and Yash Modi (Senior Associate).
Notably, the SAM team had also advised Carlyle during its acquisition of a 9.99% stake in Yes Bank in 2022.
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