DSK Legal advised Religare in relation to its acquisition of MIC
DSK Legal advised Religare in relation to its acquisition of MIC
DSK Legal advised Religare Enterprises Limited (“Religare”) in relation to its acquisition of 100% shareholding of MIC Insurance Web Aggregator Private Limited (“Target Company”) from iGear Holdings Private Limited (“iGear”), an Indian Express Group entity. With this acquisition, Religare aims at expanding its foothold in the insurance distribution space.
MIC is the country’s first IRDAI approved and registered insurance web aggregator, operates a portal at www.myinsuranceclub.com. It helps customers by offering a comparison of the best insurance products available across India.
Religare Group said that the proposed acquisition, which is subject to regulatory approvals, is in line with the group's strategy to further the growth of the insurance business and emerge as a stronger player.
DSK Legal assisted and advised Religare on the legal aspects of the transaction such as conducting the legal due diligence, transaction structuring, drafting, reviewing, and finalising the definitive agreements for the acquisition of 100% shareholding of the Target Company.
The legal due diligence exercise team comprised of Chirag Jain (Principal Associate), Amrita Mehdiratta (Senior Associate), Parikalp Gupta (Associate), and Aankhi Anwesha (Associate).
The transaction structuring, drafting, and finalisation of the definitive documents was led by Rishi Anand (Partner) along with Chirag Jain (Principal Associate), and was assisted by Snigdha Prakash (Associate).
