Hong Kong’s AIA Group is raising its stake in Tata AIA Life Insurance to 49% for an undisclosed amount..Cyril Amarchand Mangaldas acted for AIA Group with a team led by Partner Ashwath Rau..AZB & Partners acted for Tata through a team led by Mumbai Partner Darshika Kothari..AIA will purchase a 23% stake in the company, in addition to its existing 26%, to raise its shareholding to 49%. Tata AIA Life Insurance, a joint venture started between Tata Sons and AIA Group in 2001, offers a variety of life insurance solutions..This is the third deal reported in two weeks after the government allowed foreign companies to hold a 49% stake in Indian insurers, up from the earlier limit of 26%..The other two deals reported are Sun Life Group’s increase in stake to 49% in its Indian life insurance joint venture with the Aditya Birla Group for Rs 1,664 crore (about $250 million) and France’s AXA group increasing its stake in its life insurance and general insurance joint ventures with Bharti Enterprises..Both Sun Life and AXA Group were advised by Talwar Thakore & Associates while AZB & Partners acted for Bharti.
Hong Kong’s AIA Group is raising its stake in Tata AIA Life Insurance to 49% for an undisclosed amount..Cyril Amarchand Mangaldas acted for AIA Group with a team led by Partner Ashwath Rau..AZB & Partners acted for Tata through a team led by Mumbai Partner Darshika Kothari..AIA will purchase a 23% stake in the company, in addition to its existing 26%, to raise its shareholding to 49%. Tata AIA Life Insurance, a joint venture started between Tata Sons and AIA Group in 2001, offers a variety of life insurance solutions..This is the third deal reported in two weeks after the government allowed foreign companies to hold a 49% stake in Indian insurers, up from the earlier limit of 26%..The other two deals reported are Sun Life Group’s increase in stake to 49% in its Indian life insurance joint venture with the Aditya Birla Group for Rs 1,664 crore (about $250 million) and France’s AXA group increasing its stake in its life insurance and general insurance joint ventures with Bharti Enterprises..Both Sun Life and AXA Group were advised by Talwar Thakore & Associates while AZB & Partners acted for Bharti.
