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CAM, AZB help Axis Bank buy another 29% in Max Life for $210m

Private sector lender Axis Bank ... said it would acquire an additional 29 per cent stake in Max Life Insurance for an estimated price of Rs 1,592 crore, raising its total holding in the life insurer to 30 per cent after the completion of the deal.

Business Standard

Cyril Amarchand Mangaldas advised Axis Bank Limited led by a team of partner Yash Ashar, and partner Indranath Bishnu, partner Gokul Rajan, partner Anshuman Sakle, head of tax director Daksha Baxi, partner Mekhla Anand, director Kunal Savani, principal associate Pranjita Barman, principal associate Soumyadipta Chanda, principal associate designate Aashima Johur, principal associate Kaustav Kundu, principal associate Soumyadipta Chanda, and senior associate Shiladitya Dash.

AZB & Partners acted as the legal counsel to Max Life Insurance Company Limited, Max Financial Services Limited.

Cyril Amarchand Mangaldas also acted as the legal counsel to MSI on a Chinese Wall basis from the other team.

The share purchase agreement was executed on 27 April 2020.


This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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