Axis Bank is acquiring nearly 30% of Max Life Insurance Co. from Max Financial Services Ltd, the flagship listed company of Analjit Singh, for ₹1,600 crore..Cyril Amarchand Mangaldas is acting for Axis Bank and the team was led by Partner Indranath Bishnu..AZB & Partners acted for their long-standing client Max and the team was led by Partners Anil Kasturi, Niladri Maulik, Anisha Shridhar and Ashish Pareek along with Senior Associate Anupam Misra..India’s fourth-largest private sector bank will become a strategic partner of the life insurance firm, in which Max Financial will eventually hold 70% after a two-stage transaction, reported ET.
Axis Bank is acquiring nearly 30% of Max Life Insurance Co. from Max Financial Services Ltd, the flagship listed company of Analjit Singh, for ₹1,600 crore..Cyril Amarchand Mangaldas is acting for Axis Bank and the team was led by Partner Indranath Bishnu..AZB & Partners acted for their long-standing client Max and the team was led by Partners Anil Kasturi, Niladri Maulik, Anisha Shridhar and Ashish Pareek along with Senior Associate Anupam Misra..India’s fourth-largest private sector bank will become a strategic partner of the life insurance firm, in which Max Financial will eventually hold 70% after a two-stage transaction, reported ET.
