Shardul Amarchand Mangaldas & Co. Advises IndiaFirst Life Insurance Company Ltd. on Acquisition of Carmel Point’s stake in the Company by BNP Paribas Cardif
The transaction involved a unique pre-closing restructuring exercise, wherein Carmel Point India Investments Limited, a wholly owned special purpose vehicle of CPIL, underwent voluntary liquidation, followed by an in specie distribution of its assets, including its shareholding in IndiaFirst Life Insurance Company Limited, to its parent entity as a condition precedent to the proposed acquisition.