SNG & Partners, a leading law firm, has successfully advised and assisted Indian multinational conglomerate Patanjali Ayurved Limited in negotiating a Share Purchase Agreement to acquire a majority stake of 73.555% in Magma General Insurance (formerly known as Magma HDI General Insurance Company Limited).
Additionally, DS Group is acquiring the remaining 24.5% equity shares in the company. The stake sale has valued the Company at ₹ 4,500 Crore. Prior to this acquisition, the majority shareholders of Magma General Insurance were Sanoti Properties LLP, Celica Developers Private Limited, and Jaguar Advisory Services Private Limited.
This transaction marks a significant milestone in the insurance sector, reinforcing Patanjali Ayurved Limited’s expansion into the financial services domain.
The transaction team at SNG & Partners was led by Ravi Bhadani (Partner), with support from Niharika Dungrakoti (Senior Associate), Ayushi Parnami (Senior Associate), Mohit Goyal (Associate), and Tripti Sharan (Associate).
Their expertise and strategic advisory played a crucial role in successfully navigating the complex negotiations and regulatory processes involved in the transaction.
