Deal Street

May 19, 2020

Manulife partners with AZB & Partners for a 49% Stake Acquisition In Mahindra AMC


[ by Legal Era News Network ]

business

Mahindra & Mahindra Financial Services (Mahindra Finance) completed proceedings for divestment of 49% stake in Unit Mahindra Asset Management Company Private Limited (Mahindra AMC), to Manulife Investment Management (Singapore) Pte. Ltd. (Manulife), a leading global financial services group.

According to a SEBI Press Release, Manulife has invested US$ 35 million (Rs. 265 crore) in the 51:49 joint venture, which aims to expand its fund offerings, drive fund penetration, and achieve long term wealth creation in India.

Manulife is a leading international financial services group, providing wealth and asset management and life insurance solutions for individuals, groups and institutions around the world.

Mahindra & Mahindra Financial Services Limited (Mahindra Finance) – part of the Mahindra Group – is one of India’s leading non-banking finance companies. Mahindra AMC is one of the fastest growing asset management companies in India, currently offering over 13 investment schemes. AZB & Partners represented Manulife in this venture. Rushabh Maniar (Partner) alongwith Senior Associate Devika Nayak worked on this deal.



Related Post

latest News

  • CBI Set To Probe If Cyril Amarchand Mangaldas Top Brass Helped Hide Key Evidence Related To PNB-Nirav Modi Fraud

    The Central Bureau of Investigation (CBI) has told a special CBI court hearing the Punjab National Bank-Nirav Modi fraud case that further investigati...

    Read More
  • SEBI Sends Fresh Notice To Diageo Reiterating Direction To Make Additional Payments To USL’s Minority Shareholders

    Alcoholic beverages maker Diageo has received a fresh notice from the Securities and Exchange Board of India (SEBI).

    Read More
  • SC Collegium Defends Its Decision To Transfer Madras High Court Chief Justice Tahilramani To Meghalaya High Court

    The Supreme Court has stated that Madras High Court Chief Justice Vijaya Kamlesh Tahilramani's transfer to the Meghalaya High Court was made after ful...

    Read More