Amarchand and Khaitan jointly sell 26 percent in Reliance Life to Nippon Life for 3062 croreMarch 16 2011
In one of the largest FDI deals in the insurance space, Reliance Life sold 26 percent stake in its insurance business to Japanese insurance conglomerate, Nippon Life Insurance Company.
The Anil Ambani controlled Reliance Life was advised by the Bombay office of Amarchand Mangaldas with Senior Partner Vandana Shroff and Partner Ravindra Bandhakavi leading the team.
The deal was signed on March 14 and is expected to close before September 30, 2011. This deal is valued at Rs. 3062 crore ($680 million) for a 26 percent stake, which values the entire company at $2.6 billion (Rs. 11 . . .
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