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Khaitan assists Dewan Housing on its exit from Pramerica mutal funds JV

“DHFL to exit mutual fund business DHFL Pramerica: Housing finance firm Dewan Housing Finance Corp. Ltd (DHFL) on Tuesday said that it will sell its entire stake in mutual fund business DHFL Pramerica Asset Managers Pvt. Ltd to its [JV] partner US-based Prudential Financial Inc., [according to an exchange filing]. DHFL said it will also sell the 50% stake it holds in DHFL Pramerica Trustees Pvt. Ltd.,” reported Mint.

Khaitan & Co advised Dewan Housing Finance Corporation Limited (DHFC) led by a team of partner Ashraya Rao and associate Suditi Surana with assistance from partner Manisha Shroff, senior associate Oindrila Bhowmik associate Nandini Paliwal and associate Juhi Bhat on the banking aspects.

DHFC had been advised by AZB & Partners Mumbai in 2013 in DHFC’s purchase of a stake in Prudential Insurance Holdings, with what-was-then Amarchand Mangaldas Delhi advising the US-based insurer.

Deal value: Confidential

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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