State Bank of India (SBI) and its wholly owned subsidiary, SBI Payment Services Private Limited (SBIPSPL), proposed a 74:26 joint venture with Hitachi Payment Services Private Limited (HPSPL), an indirect wholly owned subsidiary of Hitachi Limited, Japan, according to reports.

Cyril Amarchand Mangaldas advised State Bank of India led by a team of partners Ravi Kumar, SR Patnaik and Anshuman Sakle.

Update 29 May 2019: S&R Associates advised Hitachi Payment Services, a wholly-owned subsidiary of Hitachi Ltd, Japan;;, led by a team including partners Sanjeev Adlakha and Rachael Israel, associates Prachi Goel, Aditya Mohanty and Aditi Agarwal on M&A, corporate and regulatory matters, and counsel Simran Dhir, with lawyers Dhruv Agarwal and Ishika Rout on competition law matters.

Also advising on the transaction was Ernst & Young.

2018-10-27

Deal value: Confidential

{incomplete}