•  •  Dark Mode

Your Interests & Preferences

I am a...

law firm lawyer
in-house company lawyer
litigation lawyer
law student
aspiring student

Website Look & Feel

 •  •  Dark Mode
Blog Layout

Save preferences

Insurance FDI: Trilegal helps Prism Cement sell $16.5m stake to Cyril Amarchand client

Pursuant to the liberalisation of foreign investment in the insurance sector, Prism Cement sold 23% out of its 74% stake in Raheja QBE General Insurance Company to an affiliate of QBE Asia Pacific Holdings for Rs 110 crore (AUD 21.5m).

Prism was advised by Trilegal partner Ashwyn Misra, counsel Shamin Shah, senior associates Saswat Subasit and Gautam Chawla (competition law), and associate Jeet Chaudhuri.

According to Trilegal’s press release, it was involved in drafting and negotiating the transaction documents, finalising the applications to the FIPB and IRDA as well as the amendments to the Joint Venture Agreement entered into on 19 July 2007 and the Articles of Association to comply with the Indian control requirements prescribed by the IRDA

QBE was advised by Cyril Amarchand Mangaldas Mumbai partner Leena Chacko, principal associate Tirthankar Datta and senior associate Saksham Chaturvedi.

Click to show 1 comment
at your own risk
By reading the comments you agree that they are the (often anonymous) personal views and opinions of readers, which may be biased and unreliable, and for which Legally India therefore has no liability. If you believe a comment is inappropriate, please click 'Report to LI' below the comment and we will review it as soon as practicable.