Shardul Amarchand Mangaldas & Co (SAM) and JSA have advised on Bajaj Finserv’s proposed INR240 billion (USD2.79 billion) acquisition of Allianz SE’s entire 26% promoter stake in their two insurance joint ventures — Bajaj Allianz General Insurance Company (BAGIC) and Bajaj Allianz Life Insurance Company (BALIC).
“The Bajaj team was incredibly supportive and our collaboration was seamless,” said Shailaja Lall, a SAM partner who co-led the transaction team, representing Bajaj Finserv.
“Unwinding a joint venture partnership that has lasted as long as this one undoubtedly involves several complexities not just from a legal and regulatory perspective but also from a commercial standpoint. This meant that negotiations needed to be sensitive and intricately handled. Despite the challenges along the way, through constructive discussions and a shared commitment to resolving challenges, we managed to close out all issues in record time.”
SAM partner Akshay Sachthey co-led the transaction team, with support from principal associate Anupam Choudhary, and associates Poorvisha Jindal and Nidhi Lakhotia. JSA represented Allianz SE.
The SAM team worked on all insurance and corporate law aspects of the transaction, while executive chairman Shardul S Shroff provided input from a strategic perspective.
Bajaj Finserv – along with certain promoter and promoter group entities – will acquire the 26% stake, increasing the Bajaj Group’s ownership of BAGIC and BALIC to 100%. This strategic move strengthens Bajaj Finserv’s position in the insurance sector, allowing greater control over its operations and future growth.
The transaction is subject to regulatory approvals, including clearance from the Competition Commission of India and the Insurance Regulatory and Development Authority of India. Bajaj Finserv is one of 含羞草社区 largest and most diversified financial groups.
