IDBI Bank… said it will sell part of its stake in IDBI Federal Life Insurance to Belgian multinational insurance company Ageas Insurance and Federal Bank. Ageas will acquire 23% stake, while Federal Bank will buy 4%, the lender said in a disclosure to the stock exchanges.

— Mint

Shardul Amarchand Mangaldas & Co advised IDBI Bank Ltd led by a team of partner Abhishek Guha, partner Roopal Kulsrestha, Counsel Jagriti Mohata, associate Keegan Pavrey, associate Meghna Nachappa.

AZB & Partners advised Ageas Insurance International NV led by a team of partners Rajendra Barot and Arvind Ramesh, and senior associate Rishikesh Desai.

L&L Partners advised Federal Bank Limited.

2020-08-05

Deal value: INR 595,00,00,000 (approx.)

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