Firm advises Sanlam on increased stake in Shriram Insurance

It ploys to increase its share in Shriram’s life and general insurance business.

Cyril Amarchand Mangaldas (CAM) provided legal advice to Sanlam regarding its proposed increase in effective economic shareholding in Shriram General Insurance Co (SGIC) and Shriram Life Insurance Co (SLIC). 

Sanlam aims to acquire an additional effective economic shareholding in SGIC from 40% to 51%, and in SLIC from 42% to 54%, subject to fulfillment of necessary conditions.

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CAM advised on the transaction structure and provided legal insights on documentation from an Indian legal and regulatory standpoint.