Deal Corner
May 01, 2010
Represented DBS Bank Ltd.

DEAL BRIEF

Represented DBS Bank Ltd., Singapore on in its exit from Cholamandalam DBS Finance Limited ("Chola DBS"), by way of sale of 37.48 % equity stake and preference shares to Murugappa Group. The deal is valued at approximately INR 3.8 billion (US$ 83 million). CholaDBS was a 50:50 joint venture NBFC between DBS Bank Ltd. and Murguappa Group engaged in the business of inter alia retail finance, broking and distribution of financial products and is listed on the Bombay Stock Exchange Limited, National Stock Exchange of India Limited and Madras Stock Exchange Limited.

OUR ROLE

In past, we, at Nishith Desai Associates had also acted as legal and tax counsel for DBS Bank Ltd., for their entry into the non banking financial business in India through this investment in Chola DBS.

Disclaimer

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We expressly clarify that this communication is not a solicitation or an invitation of any sort whatsoever from Nishith Desai Associates or any of its members to create an attorney-client relationship. This communication is not intended to be a source of advertising and the recipient should always seek the advice of competent counsel licensed to practice in the recipient's country/state.

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Deal Corner

May 01, 2010

Represented DBS Bank Ltd.

DEAL BRIEF

Represented DBS Bank Ltd., Singapore on in its exit from Cholamandalam DBS Finance Limited ("Chola DBS"), by way of sale of 37.48 % equity stake and preference shares to Murugappa Group. The deal is valued at approximately INR 3.8 billion (US$ 83 million). CholaDBS was a 50:50 joint venture NBFC between DBS Bank Ltd. and Murguappa Group engaged in the business of inter alia retail finance, broking and distribution of financial products and is listed on the Bombay Stock Exchange Limited, National Stock Exchange of India Limited and Madras Stock Exchange Limited.

OUR ROLE

In past, we, at Nishith Desai Associates had also acted as legal and tax counsel for DBS Bank Ltd., for their entry into the non banking financial business in India through this investment in Chola DBS.

Disclaimer

We expressly clarify that this communication is not a solicitation or an invitation of any sort whatsoever from Nishith Desai Associates or any of its members to create an attorney-client relationship. This communication is not intended to be a source of advertising and the recipient should always seek the advice of competent counsel licensed to practice in the recipient's country/state.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list.

NDA Connect

Connect with us at events, 
conferences and seminars.