Ageas Insurance and Federal Bank’s $68 Million Acquisition of Stake in IDBI Federal Life Insurance

Shardul Amarchand Mangaldas & Co advised IDBI Bank Ltd, while AZB & Partners advised Ageas Insurance International NV on the transaction.

Ageas Insurance completed the acquisition of 23% stake in IDBI Federal Life Insurance, while Federal Bank bought 4%.

Ageas offers international insurance services such as life and non-life, disability, and medical to individuals and groups.

Federal Bank Limited operates branches and regional offices throughout India. The Bank offers a wide range of financial services, including merchant banking, international banking and foreign exchange, leasing facilities, money markets and agricultural advances.

Idbi Federal Life Insurance Co Ltd operates as an insurance firm and offers life and health insurance services.

The Shardul Amarchand Mangaldas & Co team advising IDBI Bank Ltd was led by partner Abhishek Guha (Picture), partner Roopal Kulsrestha, Counsel Jagriti Mohata, associate Keegan Pavrey, associate Meghna Nachappa.

AZB & Partners advised Ageas Insurance International NV led by a team of partners Rajendra Barot and Arvind Ramesh, and senior associate Rishikesh Desai.

Involved fees earner: Rajendra Barot – Azb & partners; Rishikesh Desai – Azb & partners; Arvind Ramesh – Azb & partners; Abhishek Guha – Shardul Amarchand & Mangaldas & Co.; Roopal Kulsrestha – Shardul Amarchand & Mangaldas & Co.; Jagriti Mohata – Shardul Amarchand & Mangaldas & Co.; Meghna Nachappa – Shardul Amarchand & Mangaldas & Co.; Keegan Pavrey – Shardul Amarchand & Mangaldas & Co.;

Law Firms: Azb & partners; Shardul Amarchand & Mangaldas & Co.;

Clients: Ageas N.V.; IDBI Bank Limited ;

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Author: Michael Patrini