Cyril Amarchand Mangaldas (CAM) and AZB & Partners advised on Kotak Mahindra Bank Limited’s proposed acquisition of The Private Banking and Wealth Management Business of Deutsche Bank AG in India.
The Business Transfer Agreement was signed on June 30, 2026 and Closing is subject to completion of the conditions set out under the Business Transfer Agreement. As of March 31, 2026, the Business Undertaking comprised of approximately INR 29,000 crore (~2.7 billion Euros) in advances outstanding and INR 16,000 crore (~1.5 billion Euros) in deposits and INR 10,500 crore (Euro ~1.0 billion) of assets under management and serves around 150,000 customers through a team of about 1,000 employees.
Cyril Amarchand Mangaldas (CAM) advised Kotak Mahindra Bank Limited on the transaction involving the proposed acquisition of the Private Banking and Wealth Management Business of Deutsche Bank A.G. (acting through its India branches).
The deal team was led by Archit Bhatnagar, Partner; with assistance from Pruthvi Jasani and Utkarsh Jhingan; Senior Associates; Saurabh Agnihotri and Tanvi Jain, Associates.
Abhijeet Das, Partner; provided strategic inputs and guidance throughout the transaction.
Ankita Ray, Partner; with assistance from Ankita Sharma, Director – Employment; Rohini Dayalan, Principal Associate; Shivika Gupta, Senior Associate; advised on employment related aspects.
Ranganayakulu Jagarlamudi, Consultant- Regulatory Affairs; provided inputs on SEBI regulatory matters.
Jian Johnson, Partner, advised on RBI regulatory matters.
Dhruv Rajain, Partner; with assistance from Anshul Jain, Senior Consultant, Rajat Sharma, Principal Associate; Ananya Mahant, Senior Associate; Samridh Sinha and Ridhima Sethi, Associates advised on competition related aspects.
AZB & Partners represented Deutsche Bank A.G., India Branches in connection with the ongoing sale of its private bank and wealth management business in India to Kotak Mahindra Bank Limited.
The deal team is being led by Senior Partners, Gautam Ganjawala and Roxanne Anderson and comprises of Partner, Karthik Mudaliar, Senior Associates, Lokesh Deshwal and Sanghamitra Sengupta, and Associates, Prithviraj Khanna and Malvika Kedia.
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