May 01, Mumbai: 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 General Corporate team of Cyril Amarchand Mangaldas advised on 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.
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