Khaitan & Co advises BNP Paribas Cardif on stake acquisition in IndiaFirst Life Insurance

BNP Paribas Cardif has acquired approximately 26% stake in IndiaFirst Life Insurance Company Limited from Carmel Point Investments Ltd (Warburg Pincus holding company), subject to requisite approvals from the IRDAI and the Competition Commission of India.

Khaitan & Co advised BNP Paribas Cardif on this stake acquisition. The Firm provided end-to-end legal representation to BNP Paribas Cardif with respect to the deal including drafting, reviewing, commenting, marking-up and negotiating the Share Purchase Agreement and the Shareholders' Agreement; conducting the legal due-diligence exercise on the Target; and advising on regulatory related aspects.

The transaction team consisted of K Aishwarya (Partner), Shishir Jose Vayttaden (Partner), Niyati Dholakia (Principal Associate) and Ambreen Rahman (Associate). The following provided assistance:

Insurance law aspects: Aravind Venugopal (Partner) and Amrutha Alapati (Associate);

Transaction structure aspects: Mohit Kishore (Partner), Bhaskar Vishwajeet (Associate) and Jahnavi Yalavarthi (Associate);

Competition law aspects: Anisha Chand (Partner), Alisha Mehra (Principal Associate), Yatharth Vardhan Singh (Senior Associate), and Vrinda Bhardwaj (Associate);

Intellectual property law aspects: Nirupam Lodha (Partner), Shivangi Narang (Principal Associate) and Gautam Wadhwa (Senior Associate);

Employment law aspects: Vinay Joy (Partner), Aditya J Nair (Senior Associate), Shaaryl Dsouza (Associate) and Tanvi Uday Shetty (Associate);

Data privacy law aspects: Supratim Chakraborty (Partner), Himeli Chatterjee (Senior Associate) and Mayank Barman (Associate).

BNP Paribas Cardif intends to roll out its proven bancassurance strategy in India by partnering with Bank of Baroda and Union Bank of India to expand the availability of financial protection and savings products.

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.