Muthoot Finance, the country’s largest gold financing company… has entered into an agreement to acquire IDBI Bank’s mutual fund unit, marking its entry into mutual fund asset management space. Muthoot Finance … has agreed to acquire IDBI Asset Management Ltd and IDBI MF Trustee Company or a total consideration of Rs 215 crore.

— Businesstoday

AZB & Partners advised Muthoot Finance Limited led by a team of partners Srinath Dasari, Bhuvana Veeraragavan, Rushabh Maniar, Samir Gandhi and Hemangini Dadwal, and senior associate Toshit Shandilya.

Update 12 December 2019: J Sagar Associates advised IDBI Bank Limited and IDBI Capital Markets & Securities Limited led by a team of partners Rinku Ambekar and Anand Lakra, associates Ami Shah and Abhishek Singh, and partner Vaibhav Choukse and senior associate Ela Bali who advised on competition law aspects of the transaction.

2019-11-22

Deal value: INR 2.15 Billion/ USD 30 million

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