Shardul Amarchand Mangaldas advised UBS Group AG (“UBS”) and Credit Suisse Group AG (“Credit Suisse”) on obtaining antitrust clearance and related advisory in India, in relation to their merger. The deal is valued at approximately CHF 3 billion (USD 3.3 billion).
Pursuant to the transaction, Credit Suisse has merged with UBS and the combined entity will operate as a consolidated banking group. The SAM & Co. team engaged with the Competition Commission of India (“CCI”) extensively for an expedited approval of the transaction, which was cleared within 22 calendar days from the date of filing.
The competition law team was led by Naval Satarawala Chopra, Partner; Harman Singh Sandhu, Partner; Manika Brar, Partner; Neetu Ahlawat, Principal Associate; Apurv Jain, Associate and Shivek Sahai Endlaw, Associate.
Freshfields Bruckhaus Deringer acted as Global Transaction Advisor for UBS.
Sullivan & Cromwell acted for Credit Suisse.
About Shardul Amarchand Mangaldas & Co.:
Shardul Amarchand Mangaldas & Co, founded on a century of legal achievements, is one of India’s leading full-service law firms. The firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation, and collaboration. SAM & Co is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & bankruptcy, dispute resolution, capital markets, banking & finance, and projects & infrastructure.
The Firm has a pan-India presence and has been at the helm of major headline transactions and litigations in all sectors, besides advising major multinational corporates on their entry into the Indian market and their business strategy. Currently, the Firm has over 775 lawyers including 149 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru, and Chennai.
