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CAM, SAM [+Surana] do 3-way $1.37bn Baroda-Vijaya-Dena merger to create top 3 bank

“Powered by the business of Dena Bank and Vijaya Bank, Bank of Baroda will become larger than ICICI Bank from 1 April following completion of the amalgamation process of three state-run banks. After State Bank of India (SBI) and HDFC Bank, with businesses of ₹ 45.85 trillion and ₹ 15.8 trillion respectively, ICICI Bank ( ₹ 11.02 trillion) is the third largest commercial bank now,” reported Mint about the merger, that became effective on 1 April.

Cyril Amarchand Mangaldas advised Bank of Baroda led by a team of Transaction Team, GC/M&A (Transaction Team), partner L Viswanathan, partner Shishir Vayttaden, partner Pranay Chandran, partner Manan Mehta, principal associate Aditi Singhvi, principal associate K Aishwarya, senior associate Subham Agrawal, senior associate Manali Singhal, senior associate Aayush Kumar, Diligence Team, General Corporate:, partner Shishir Vayttaden, partner Pranay Chandran, principal associate Aditi Singhvi, senior associate Bhargav Joshi, senior associate Manali Singhal, senior associate Subham Agrawal, Financing team, partner Joseph Jimmy, partner Nikunj Maheshwari, Employment Team:, partner Rashmi Pradeep, partner Abe Abraham, senior associate Bhavna Dhami.

Shardul Amarchand Mangaldas advised Dena Bank, led by partner Debashree Dutta, partner Siddhartha Sen, principal associate Sourabh Bhattacharya, associate Amana Ranjan, associate Simran Kaur and associate Disha Saxena.

Update 22 June 2019: Surana & Surana advised Vijaya Bank led by a team including partner Kalyan Jhabakh, real estate and infrastructure head Sanjay Mehta and lawyer Sandeep Surana, and corporate team co-head Sowmya, CA Anuradha, and IP head Prathik Mehta.


Deal value: $1.37bn

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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