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CAM, SAM, A&O, Shearman & Sterling sell GE businesses to Aion and Plutus

Cyril Amarchand Mangaldas and Allen & Overy (A&O), and tax firm Dhruva Advisors, advised former GE Capital executives Pramod Bhasin and Anil Chawla’s fund Plutus Financials and Aion Capital Partners on buying GE Capital Services India and GE Money Financial Services.

The GE firms were advised by Shardul Amarchand Mangaldas and Shearman & Sterling.

CAM Delhi corporate partners Raghuram Raju, Nivedita Tiwari, Harry Chawla and Mumbai competition partner Nisha Kaur Uberoi, and A&O partner Karan Dinamani acted for Plutus, Bhasin, Chawla and Aion.

Dhruva CEO Dinesh Kanabar and associate director Prakash Shah acted for Plutus on tax aspects.

Shearman Singapore partner Sidharth Bhasin, London partners Korey Fevzi, Simon Letherman and Jeremy Kutner, counsel Sam Whitaker and associates James Clayton-Payne, Gabriel Ng, Elizabeth Emerson, Paul Pasalic, Brian Butterwick and Isla Smith acted for GE Capital Services and GE Money Financial Services.

SAM could not disclose its team acting on the transaction, at the time of going to press.

Aion, an India-focussed special situation fund, alongwith Plutus invested between $300m and $350m in this deal, according to Mint’s source.

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