Big Insurance Deal: Shardul Amarchand Mangaldas acts on Bajaj Group’s ₹24,000 crore buyout of insurance JV partner Allianz

Shardul Amarchand Mangaldas & Co advised Bajaj Finserv Limited on the acquisition by Bajaj Group of Allianz SE’s entire 26% promoter stake in each of their insurance joint ventures, Bajaj Allianz General Insurance Company Limited and Bajaj Allianz Life Insurance Company Limited for a total consideration of approximately ₹24,000 crore.

SAM's transaction team was led by Shailaja Lall (Partner) and Akshay Sachthey (Partner), with support from Anupam Choudhary (Principal Associate), Poorvisha Jindal (Associate) and Nidhi Lakhotia (Associate). The team advised on all insurance and corporate law related aspects of the transaction.

Dr. Shardul S. Shroff (Executive Chairman) provided inputs from a strategic perspective.

Harman Singh Sandhu (Partner), Aman Singh Sethi (Partner), Ritesh Puri (Senior Associate), Natalia Bilimoria (Associate) and Pranika Goel (Associate) advised on the competition law aspects of the transaction while Gouri Puri (Partner), Rahul Yadav (Counsel) and Nimish Malpani (Senior Associate), advised on the tax aspects.

Manjari Tyagi (Partner), Deepika Goyal (Principal Associate) and Swarnim Pankhuri (Associate) provided inputs from a securities law perspective on the transaction.

Allianz’s stake is proposed to be purchased by Bajaj Finserv Limited along with certain promoter/ promoter group entities and will increase Bajaj group’s ownership in both the Insurance Companies to 100%.

The transaction is subject to receipt of regulatory approvals, including approvals from the Competition Commission of India and the Insurance Regulatory and Development Authority of India.

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