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AZB Mumbai + Delhi, Amarchand on DLF’s Pramerica insurance sale to DHFL

Amarchand Mangaldas advised US-based Prudential International Insurance Holdings in selling a 74 per cent stake of real-estate developer DLF, advised by AZB & Partners Delhi, in its Indian life insurance wing Pramerica, to Mumbai-based home mortgager Dewan Housing Finance (DHFL). DHFL was advised by AZB Mumbai.

Amarchand Mangaldas Delhi partner Shailaja Lall, principal associates Kunal Mehra and Amit Singhania, senior associate Somya Kanti De Mallick, and associates Ashish Teni, Maureen Ralte, Vinay Mishra and Ankur Goel acted for Prudential, which has partnered with DLF under the Pramerica brand, according to the Economic Times.

AZB Delhi partner Allwyn Noronha with senior associate Gautam Varma acted for DLF which sold off its insurance business stake in Pramerica.

AZB Mumbai partner Rajendra Barot with senior associates Arvind Ramesh and Vijay Manjrekar and associates Aditya Javeri and Abhijit Pandey acted for DHFL, which will discontinue selling ICICI Prudential insurance products after the deal, according to the ET. British life insurer Prudential runs a joint venture with India's largest private sector bank by assets ICICI Bank.

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