Desai & Diwanji has advised IDFC Mutual Fund on its estimated Rs 300 crore ($66m) sale of a 25 per cent stake in IDFC Asset Management Company to French asset manager Natixis, which was advised by Amarchand Mangaldas Mumbai.

Wholly-owned IDFC subsidiary IDFC Asset Management Company was advised by Desai & Diwanji Mumbai-based partner Apurva Diwanji together with associate partner Devika Cariapa, senior associate Natasha Treasurywala and associate Aparna Nair.

Natixis was represented by Amarchand Mangaldas Mumbai-based partner Vandana Shroff, principal associate Gurpreet Ashar and associate Ratnadeep Roychowdhury.

According to VCCircle the value of the 25 per cent stake sale was approximately Rs 300 crore, valuing the Indian asset management company at roughly Rs 1,200 crore.

Natixis is one of the world’s top 15 asset managers by size of its managed assets.