Ageas will acquire 40 per cent of the share capital of Royal Sundaram General Insurance Co. Limited for Rs.1520 crores..Currently, Sundaram Finance holds 75.90 per cent in Royal Sundaram and seeks to divest 25.90 per cent, retaining 50 per cent of its holding after the transaction. Some of the existing Indian shareholders would hold the remaining 10 per cent in Royal Sundaram..J. Sagar Associates acted for Royal Sundaram with a team led by Partners Aarthi Sivanandh and Bhavana Alexander along with Associate Pavithra Manivannan..AZB & Partners acted for Ageas with a team led by Partner Arvind Ramesh along with Rishikesh Desai..The transaction is subject to certain conditions to close including the approval of the Insurance Regulatory and Development Authority of India (IRDAI) and other Regulators. The transaction is expected to close in the first quarter of 2019.
Ageas will acquire 40 per cent of the share capital of Royal Sundaram General Insurance Co. Limited for Rs.1520 crores..Currently, Sundaram Finance holds 75.90 per cent in Royal Sundaram and seeks to divest 25.90 per cent, retaining 50 per cent of its holding after the transaction. Some of the existing Indian shareholders would hold the remaining 10 per cent in Royal Sundaram..J. Sagar Associates acted for Royal Sundaram with a team led by Partners Aarthi Sivanandh and Bhavana Alexander along with Associate Pavithra Manivannan..AZB & Partners acted for Ageas with a team led by Partner Arvind Ramesh along with Rishikesh Desai..The transaction is subject to certain conditions to close including the approval of the Insurance Regulatory and Development Authority of India (IRDAI) and other Regulators. The transaction is expected to close in the first quarter of 2019.