The Oman India Joint Investment Fund has proposed acquiring shares of PnB Metlife India Insurance Company Limited (“PNB Metlife”) from The J&K Bank Limited. Oman India Joint Investment Fund is a private equity firm being a joint venture of Oman’s State General Reserve Fund and State Bank of India. PNB MetLife is one of the leading life insurance companies in India, and is a joint venture between MetLife International Holdings Inc, Punjab National Bank, J&K Bank, M Pallonji and other private investors. The total deal value is Rs 185 Crores, according to reports.

J Sagar Associates (JSA) advised Oman India Joint Investment Fund led by a team of The JSA Team comprised partner Sidharrth Shankar, principal associate Prakriti Jaiswal, senior associate CV Srikant, and associates Shweta Gupta, Srishti Moitra and Aman Bhatia.

Dua Associates acted for J&K Bank.

Metlife was represented by Tatva Legal and its in-house counsels.

2019-04-18

Deal value: INR 185 crores

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