Amarchand Mangaldas Mumbai corporate partners Ashwath Rau and Aysswarya Murthi acted for the Macquarie Group in the sale of its 50 per cent holding in Religare Macquarie Wealth Management to joint venture partner Religare Enterprises, which was advised by Vaish Associates corporate and banking partner Sandhya Iyer.
The JV exit was signed on 29 August and closed on 26 November 2013 [VCCircle]. Religare is a long-loyal client of Vaish, while Macquarie has used a number of Indian firms in the past, though Amarchand had set up the Religare JV for the Australian banking giant between 2007 and 2008.
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