Business News | Cyril Amarchand Mangaldas Advises UBS Group AG on the Indian Law Aspects Relating to the Merger of Credit Suisse Group AG into UBS Group AG
Get latest articles and stories on Business at LatestLY. Mumbai (Maharashtra)/ New Delhi [India], July 25: Cyril Amarchand Mangaldas advised UBS Group AG, from an Indian regulatory change of control perspective, with respect to the indirect acquisition of Credit Suisse entities in India pursuant to the merger of Credit Suisse Group AG into UBS Group AG. As a part of the merger transaction shares equivalent to CHF 3 billion (approx USD 3.5 billion) were issued.
BusinessWire India
Mumbai (Maharashtra)/ New Delhi [India], July 25: Cyril Amarchand Mangaldas advised UBS Group AG, from an Indian regulatory change of control perspective, with respect to the indirect acquisition of Credit Suisse entities in India pursuant to the merger of Credit Suisse Group AG into UBS Group AG. As a part of the merger transaction shares equivalent to CHF 3 billion (approx USD 3.5 billion) were issued. The General Corporate Practice and Securities Regulatory Practice of Cyril Amarchand Mangaldas advised UBS Group AG on the transaction. The transaction team was led by Cyril Shroff, Managing Partner; Nivedita Rao, Partner; Ramgovind Kuruppath, Partner; Rutu Gandhi, Partner; Gazal Rawal, Partner; ; with support from Megha Krishnamurthi, Principal Associate; Aditi Gupta, Senior Associate; Pruthvi Jasani, Associate; Suneha Kasal, Associate and Yash Mukadam, Associate. Anand Sinha, Senior Advisor; and Lily Vadera, Senior Advisor; provided strategic inputs and guidance on RBI- related aspects; and Ranganayakulu Jagarlamudi, Senior Advisor; provided strategic inputs and guidance on SEBI-related aspects; on the proposed transaction, and incidental matters. The transaction involved the UBS and Credit Suisse entities in India obtaining prior approval from the RBI, SEBI, stock exchanges etc., for change in control, pursuant to the global merger. Other parties and advisors to the transaction included FRESHFIELDS BRUCKHAUS DERINGER (Global Transaction Advisor for UBS Group AG), Credit Suisse AG, Mumbai Branch (Counterparty), Credit Suisse Finance (India) Private Limited (Counterparty); and Credit Suisse Securities (India) Private Limited (Counterparty). The Transaction was signed on 19th March 2023 and closed on 12th June 2023.
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