Global private equity fund Carlyle has picked up 26% stake in SBI Cards from GE Capital..Carlyle is paying around Rs 2,000 crore ($300 million) for the transaction, reported ET..Cyril Amarchand Mangaldas acted for Carlyle and the team included Partners Vandana Shroff, Manisha Kumar and Manu Varghese along with Competition Partner – Bharat Budholia..Latham & Watkins team led by Partner Simon Cooke advised Carlyle..Shardul Amarchand Mangaldas advised the affiliates of GE with a team led by Partners Shuva Mandal and Abhishek Guha along with Senior Associate Anwesha Haldar and Associates Aditi Tralshawala and Alind Chopra. The Tax Practice team was led by Partner Abhay Sharma..Slaughter & May acted as international legal counsel for GE and the team was led by Hong Kong Partner Peter Brien..Desai & Diwanji advised SBI and the team was led by Partner Parth Sharma along with Associate Partner Sonal Rangnekar..SBI Card, the second largest cards company by market share in the country, is operated through a 19-year-old two joint-venture companies, SBI Cards & Payment Services and GE Capital Business Process Management Services, which issue credit cards and process card transactions in the Indian market.
Global private equity fund Carlyle has picked up 26% stake in SBI Cards from GE Capital..Carlyle is paying around Rs 2,000 crore ($300 million) for the transaction, reported ET..Cyril Amarchand Mangaldas acted for Carlyle and the team included Partners Vandana Shroff, Manisha Kumar and Manu Varghese along with Competition Partner – Bharat Budholia..Latham & Watkins team led by Partner Simon Cooke advised Carlyle..Shardul Amarchand Mangaldas advised the affiliates of GE with a team led by Partners Shuva Mandal and Abhishek Guha along with Senior Associate Anwesha Haldar and Associates Aditi Tralshawala and Alind Chopra. The Tax Practice team was led by Partner Abhay Sharma..Slaughter & May acted as international legal counsel for GE and the team was led by Hong Kong Partner Peter Brien..Desai & Diwanji advised SBI and the team was led by Partner Parth Sharma along with Associate Partner Sonal Rangnekar..SBI Card, the second largest cards company by market share in the country, is operated through a 19-year-old two joint-venture companies, SBI Cards & Payment Services and GE Capital Business Process Management Services, which issue credit cards and process card transactions in the Indian market.
