Mitsui sumitomo insurance company limited, Insurance company

Mumbai (Maharashtra)/New Delhi [India] March 20 (/NewsVoir): India's largest law firm Cyril Amarchand Mangaldas acted as the legal counsel for Mitsui Sumitomo Insurance Company Limited (MSI) in relation to its share swap with Max Financial Services Limited (Max Financial), in a transaction valued at Rs 4200 crores.The general corporate, taxation and competition law practices of Cyril Amarchand Mangaldas advised MSI on the transaction. The firm provided strategic counsel and direction to MSI on its proposed subscription to shares of Max Financial in consideration for the transfer of certain shares held by MSI in Max Life Insurance Company Limited (Max Life) to Max Financial.Counsel included transaction documentation and related negotiations, as well as optimum strategies for tax, competition law and other regulatory matters.The transaction team was led by Nivedita Rao, Partner & Deputy Head - Corporate; Anand Jayachandran, Partner; with support from Aditya Prasad, Principal Associate; Rajalakshmi Natarajan, Senior Associate; and Sheetal S, Associate.The Taxation team was led by S Patnaik, Partner & Head - Taxation; with support from Thangadurai VP, Senior Associate.The competition Law team was led by Avaantika Kakkar, Partner & Head - Competition; with support from Dhruv Rajain, Principal Associate; and Ruchi Verma, Associate.As a part of the transaction, MSI will subscribe to 75,458,088 equity shares of Max Financial at a price of Rs 565.11 per share, for consideration other than cash, i.e. for transfer of 394,775,831 equity shares held by MSI in Max Life, at a price of Rs 108.02 per share.At the conclusion of the transaction, MSI will acquire 21.87 per cent of Max Financial' s share capital and transfer 20.57 per cent of Max Life's share capital to Max Financial.The value of the transaction, contingent upon relevant corporate and regulatory approvals, is Rs 4200 crores.The transaction is expected to close after receipt of relevant regulatory approvals.Cyril Amarchand Mangaldas takes forward the values going back 103 years, of the erstwhile Amarchand & Mangaldas & Suresh A Shroff & Co, whose pre-eminence, experience and reputation of almost a century have been unparalleled in the Indian legal fraternity.Tracing its professional lineage to 1917, the firm of Cyril Amarchand Mangaldas is now the largest full-service law firm in India, with over 750 lawyers including over 130 partners, and offices in India's key business centres at Mumbai, New Delhi, Bengaluru, Hyderabad, Chennai, and Ahmedabad.The firm advises a large and varied client base that includes domestic and foreign commercial enterprises, financial institutions, private equity funds, venture capital funds, start-ups and governmental and regulatory bodies.The firm, Cyril Amarchand Mangaldas, was awarded recently awarded with "India - Firm of the Year" at the AsiaLaw Regional Awards 2019 and "India Deal Firm of the Year" at the In-House Community Counsels of the Year Awards 2019.The firm was also named as the "Most Innovative National Law Firm of the Year - India for 2018" at the IFLR Asia Awards, having also been successful in winning the prestigious & coveted "National Law Firm of the Year, 2018 for India" at the Chambers Asia-Pacific Awards.The firm was also voted as the "Employer of Choice for 2018" from India, by the Asian Legal Business, now four years in a row, building upon the several awards that the erstwhile Amarchand & Mangaldas & Suresh A Shroff & Co had won in the past.This story is provided by NewsVoir. will not be responsible in any way for the content of this article. (/NewsVoir)( With inputs from ANI )

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Mitsui sumitomo insurance company limited, Latest News

Business :Cyril Amarchand Mangaldas advises Mitsui Sumitomo Insurance Company in share swap with Max Financial Services transaction valued at Rs 4200 crores

India's largest law firm Cyril Amarchand Mangaldas acted as the legal counsel for Mitsui Sumitomo Insurance Company Limited (MSI) in relation to its share swap with Max Financial Services Limited (Max Financial), in a transaction valued at Rs 4200 cr ...