Cyril AM, Phoenix, JSA, PDS ex-D&D team help Pramerica buy Rs 400 cr of Deutsche’s managed assets [UPDATE-1]

Friday, 7 August 2015 By Legally India Corporate M&A

Pramerica Mutual Fund has agreed to buy out Deutsche Mutual Fund’s India asset management business for around Rs 400 crore, reported Business Standard and others today, which would catapult Pramerica for 31st to 14th place in terms of Indian asset managers’ portfolio size, reported Mint in June.

Pramerica was advised by Cyril Amarchand Mangaldas partners Ashwath Rau and Shishir Vayttaden, and associate Aditi Singhvi. Tax partner SR Patnaik, employment law partner Rashmi pradeep, intellectual property (IP) partner Ranjan Negi and competition law partner Nisha Uberoi also assisted.

Deutsche Asset Management was advised by Phoenix Legal Mumbai partner Sawant Singh and counsel Shantanu Mitra.

Update 11 August 2015: PDS Legal partner Vihang Virkar, executive director Monika Deshmukh and Ayesha Rai and Sakshi Kalra acted for Deutsche India Holdings, Deutsche Asset Management (India) and Deutsche Trustee Services (India) on certain compliance related matters, according to the Deshmukh. They had joined PDS in January from Desai & Diwanji.

Dewan Housing Finance (DHFL), which is a joint venture partner in Pramerica with Prudential Financial, was advised by J Sagar Associates (JSA) former partner Jay Gandhi (who has since joined Shardul Amarchand Mangaldas) and partner Gautam Gandotra and senior associate Kunal Mehta.

Comments

Guest 7 Aug 2015, 18:08

+3 -0

Kian I wish you would highlight some achievements by academicians. You only cover article on them when they are in the news for controversial reasons. There are Indian scholars doing brilliant work in India and abroad, but you never mention that. I suggest you rename your website to Legally Corporate India, as your idea of "Legal" evidently does not transcend Amarchand and law school placement offers.

kianganz 7 Aug 2015, 19:41

+0 -2

Not true, we have covered academic papers in the past. Will try and dig some out tomorrow.

But we're always happy to cover more - trouble is, academic output domestically is woeful and globally there are only a handful doing interesting research..

Do share any any time. We can't be aware of everything awesome going on in academia...

anon 8 Aug 2015, 06:10

+1 -0

Agreed about domestic academic output being poor, but some universities are doing good work, such as JNU (though very left wing), Jindal and NLUD. You also have many think tanks.

S-C-am 7 Aug 2015, 21:58

+0 -0

[b]it was more about 100 million dollars.. 6 billion rupees.. [/b]

as u like it 7 Aug 2015, 22:32

Selling shareholder?? Ru high Kian.. DHFL is at best an acquirer in Pramerica AMC, as approved by SEBI.. Selling shareholder?? Are you serious?? BTW.. Congrats guys.. And Bro Shantanu.. All the best.. We know you structured it.. Your SEBI buddies..

kianganz 9 Aug 2015, 18:29

Thanks, corrected...

Guest 8 Aug 2015, 12:50

+1 -2

Kian you should do a story on the world's top 200 law school rankings. You should ask our HRD and law minister why there are universities from China, Japan, Singapore and South Korea but not India. Why doesn't our government give law schools as much funding and importance as these countries? You can perhaps interview some alumni of Indian law schools teaching in these countries, like Arun T (NUS) and Shubhakar Dam (SMU). Ask them why we lag behind East Asia and South East Asia.

http://www.topuniversities.com/university-rankings-articles/university-subject-rankings/top-law-schools-2015

Sugreve 10 Aug 2015, 09:23

Dear Guest, [i]athithi devo bhavo[/i]! India is already [i]Jagath Guru[/i]! We cannot be seen to be in such rat races!

Last man standing 11 Aug 2015, 17:38

+0 -1

And now the associates in Somshekhar's team is now being plundered....the end is near.

Commenting is closed for this article.