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L&L, Khaitan lead on Reliance Capital exit from mutual funds biz
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L&L, Khaitan lead on Reliance Capital exit from mutual funds biz

Bar & Bench

Reliance Capital, the financial services business of the Anil Dhirubhai Ambani Group (ADAG), is exiting the mutual fund business by selling its entire stake in Reliance Nippon Life Asset Management Ltd (RNAM) for $646 million.

Reliance Capital will sell its 42.88 percent stake to Nippon Life Insurance of Japan and other financial investors in the joint venture. Nippon Life will also make an open offer to public shareholders of Reliance Nippon Asset Management (RNAM) at Rs 230 per share, reported ET.

L&L Partners acted for Reliance and Khaitan & Co advised Nippon Life Insurance.

L&L PartnersPartnerAssociates
CorporateDeepak THMManaging Associate Anshuman Mozumdar, and Associate Devaditya Chakravarti
 

Structuring

Bikash JhawarManaging Associate Avinash Subramanian
RegulatorySundeep DudejaManaging Associate Avisha Gupta
Proposed Offer for SaleManan Lahoty and Manshoor Nazki
Khaitan & CoPartnerAssociates
CorporateNiren Patel and Aravind
Venugopal
 
Senior Associate: Yashashree Mahajan and Associates:  Gargi Bohra
Regulatory and open offer aspects Sudhir Bassi (Executive Director), Arindam Ghosh,
Aditya Cherian 
Counsel: Soumya Mohapatra, Principal Associate: Navodita Gupta, Senior Associates: Shashank Patil and Tanish Gupta Associates: Murugaveni Pillai and Nirali Trivedi
Due DiligenceThomas GeorgeSenior
Associate: Nagashayana SrinivasaiahAssociates: Divya Gupta, Shwetank Sharma, Suman
Prabhu and Shivam Arora

Image taken from here.