Trilegal advised Prism Johnson on the sale of its entire stake in Raheja QBE General Insurance Company
The leading law firm in india, Trilegal is advising Prism Johnson Limited (PJL) on the sale of its entire 51% shareholding in Raheja QBE General Insurance Company Limited (RQBE), a material subsidiary of PJL, to QBE Holdings (AAP) Pty Ltd, an existing shareholder of RQBE.
Trilegal’s scope of work includes advising on the structuring of the transaction, reviewing, negotiating, and finalising the share purchase agreement, providing inputs on the application to be made by RQBE to the Insurance Regulatory and Development Authority of India (IRDAI) for approval of the share transfer, and advising on all related aspects of the transaction.
RQBE is a joint venture between PJL and Australia’s QBE Group. Upon receipt of IRDAI approval and completion of the transaction, QBE Group will hold 100% of the shareholding in RQBE, resulting in RQBE becoming its wholly owned subsidiary. Notably, this transaction represents the first instance of 100% FDI in an Indian insurance company following the liberalisation of FDI limits in the insurance sector.
The Trilegal team was led by Ashwyn Misra (Partner) for corporate matters, with support from Teeshta Bissa (Senior Associate), Shebani Bhargava (Senior Associate), Medha Nagpal (Associate), and Niti Gosrani (Associate); Komal Dani (Partner) led tax advisory with support from Ketki Vivek Redkar (Senior Associate) and Himeesha Dhiliwal (Associate); and Sampath Kumar (Partner) led secretarial and compliance advisory, supported by Monik Damania (Principal Consultant), Divya Shetty (Consultant), and Raveena Khetwani (Consultant).
Click to know more about Trilegal
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.