Cyril Amarchand Mangaldas (CAM) advised Sanlam in its proposed increase of effective economic shareholding in Shriram General Insurance Co (“SGIC”) and Shriram Life Insurance Co (“SLIC”). Sanlam has reached an agreement to acquire additional effective economic shareholding in SGIC from the current 40% to 51%; and in SLIC from the current 42% to 54%. The proposed acquisition is subject to the fulfilment of the necessary conditions.
CAM advised on the transaction structure and provided inputs on the documentation, from an Indian legal and regulatory perspective. Edward Nathan Sonnenbergs, South Africa acted as global legal counsel to Sanlam.
The GeneralCorporate team ofCyril Amarchand Mangaldas advisedon the matter. The transaction team was led by Megha Krishnamurthi, Principal Associate; with support from Utkarsh Jhingan, Senior Associate Designate; and Suneha Kasal, Associate. Ramgovind Kuruppath, Partner provided strategic inputs.
Indranath Bishnu, Partner; with support from Shaleen Tiwari, Principal Associate; advised on Insurance related aspects of the transaction.
____________________________________________
About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government, and regulatory bodies. The Firm generalists,specialists and senior ex-regulators expertly guide clients across a spectrum of transactions,sectors, and regulations. The Firm is one of the largest full-service law firm in India and offices in key business centers at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City, Singapore and Abu Dhabi.
The Firm received “National Law Firm of the Year: India” at the IFLR Asia-Pacific Awards for the second consecutive years in 2023 and 2022 and “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2022.
