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AZB acts for ERGO on HDFC’s $32m off-load of general insurance subsdiary post RBI orders

The housing finance major has entered into a share purchase agreement for sale of 44,12,000 equity shares, representing 0.62% of the issued and paid-up share capital of HDFC ERGO.

The stake sale is being done in accordance with the direction of the Reserve Bank of India requiring HDFC to reduce its shareholding in HDFC ERGO to 50% or below.

AZB & Partners advised ERGO International AG led by a team of partners Rajendra Barot and Arvind Ramesh, senior associate Rishikesh Desai.


Deal value: INR 236 crores (USD 32 million)

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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