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Khaitan, Luthra act on $646m Nippon Life buy-out of its Reliance Cap JV

Reliance Capital (Rcap) Thursday said it will exit the mutual funds business by selling its stake in Reliance Nippon Life Asset Management Ltd (RNAM) to its joint venture partner Japan’s Nippon Life Insurance. Both partners hold 42.88 per cent each in the company, while the rest is with public shareholders.

The Economic Times

Khaitan & Co advised Nippon Life Insurance Company led by a team of partner Niren Patel, partner Aravind Venugopal, senior associate Yashashree Mahajan, associate Gargi Bohra, executive director Sudhir Bassi, partner Arindam Ghosh, partner Aditya Cherian, , associate Murugaveni Pillai; and associate Nirali Trivedi with support from the following: regulatory and open offer aspects: counsel Soumya Mohapatra, principal associate Navodita Gupta, senior associate Shashank Patil and senior associate Tanish Gupta; due diligence: partner Thomas George; senior associate Nagashayana Srinivasaiah; associate Divya Gupta associate Shwetank Sharma; associate Suman Prabhu; and associate Shivam Arora.

Update 24 May 2019: L&L Partners advised Reliance Capital Limited (RCAP) with a transaction team of partner Deepak THM, managing associate Anshuman Mozumdar and associate Devaditya Chakravarti; partner Bikash Jhawar and managing associate Avinash Subramanian advised on structuring; partner Sundeep Dudeja and managing associate Avisha Gupta advised on regulatory issues; partner Manan Lahoty and partner Manshoor Nazki are advising the client on a proposed offer for sale of the company.

2019-05-23

Deal value: INR 45.21 billion (USD 646 million)

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