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Cyril AM, Phoenix, JSA, PDS ex-D&D team help Pramerica buy Rs 400 cr of Deutsche’s managed assets [UPDATE-1]

Pramerica Mutual Fund has agreed to buy out Deutsche Mutual Fund’s India asset management business for around Rs 400 crore, reported Business Standard and others today, which would catapult Pramerica for 31st to 14th place in terms of Indian asset managers’ portfolio size, reported Mint in June.

Pramerica was advised by Cyril Amarchand Mangaldas partners Ashwath Rau and Shishir Vayttaden, and associate Aditi Singhvi. Tax partner SR Patnaik, employment law partner Rashmi pradeep, intellectual property (IP) partner Ranjan Negi and competition law partner Nisha Uberoi also assisted.

Deutsche Asset Management was advised by Phoenix Legal Mumbai partner Sawant Singh and counsel Shantanu Mitra.

Update 11 August 2015: PDS Legal partner Vihang Virkar, executive director Monika Deshmukh and Ayesha Rai and Sakshi Kalra acted for Deutsche India Holdings, Deutsche Asset Management (India) and Deutsche Trustee Services (India) on certain compliance related matters, according to the Deshmukh. They had joined PDS in January from Desai & Diwanji.

Dewan Housing Finance (DHFL), which is a joint venture partner in Pramerica with Prudential Financial, was advised by J Sagar Associates (JSA) former partner Jay Gandhi (who has since joined Shardul Amarchand Mangaldas) and partner Gautam Gandotra and senior associate Kunal Mehta.

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