Shardul Amarchand Mangaldas along with JSA, Advocates & Solicitors advised on SMBC’s acquisition of additional Stake in Yes Bank from Carlyle Affiliate.
Shardul Amarchand Mangaldas & Co’s advised CA Basque Investments (an affiliate of The Carlyle Group) on the sale of its shareholding in Yes Bank Limited to Sumitomo Mitsui Banking Corporation, valued at approximately USD 325 million.
Partner Abhishek Guha led the transaction for SAM with a team comprising of Partners Tanya U, Veena Sivaramakrishnan,& Mohit Bhatia, Counsel Kanwardeep Singh Kapany, and Senior Associate Yash Modi.
JSA advised Sumitomo Mitsui Banking Corporation (SMBC) in acquiring additional 4.22% stake in YES Bank Limited (Yes Bank) through a secondary purchase from CA Basque Investments, a company affiliated with The Carlyle Group Inc. (NASDAQ: CG), a global investment firm, for an aggregate consideration of ~USD 349 million.
JSA has also advised SMBC on its acquisition of 20% stake in Yes Bank from SBI and other shareholders including Axis Bank Limited, Bandhan Bank Limited, Federal Bank Limited, HDFC Bank Limited, ICICI Bank Limited, IDFC First Bank Limited and Kotak Mahindra Bank Limited. The entire transaction will result in SMBC becoming the Yes Bank’s largest shareholder with 24.22% stake.
SMBC is among the leading foreign banks in India and SMFG’s wholly owned subsidiary, SMFG India Credit Company Limited, is among the largest diversified NBFCs in India.
The entire transaction is a significant milestone to drive Yes Bank’s next phase of growth, profitability and value creation and SMBC expects to leverage its global expertise in this phase.
The transaction team was led by Lead Partner Vikram Raghani, along with Partner Birbahadur Sachar, Senior Associate Vaishnavi Vyas, Associate Pranjal Shorey, Associate Rashika Sharda and Company Secretary Niki Shah.
The competition team was headed by Partner & Chair, Competition Law, Nisha Kaur Uberoi, supported by Principal Associate Shambhvi Sinha, Associate Keerthana Kesavan and Associate Neelanjana Ghosh.
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