Khaitan & Co advised Tokio Marine Asia on ITGI deal

Khaitan & Co has advised Tokio Marine Asia Pte Ltd  Singapore and Japan in relation to acquisition of 23% stake in IFFCO Tokio General Insurance Company Limited (ITGI) from the existing shareholders, IFFCO and Indian Potash Limited, resulting in an increase in TM Asia’s equity stake in ITGI from 26% to 49% for $392m.

TM Asia is an intermediate holding company within the Tokio Marine Group, which is Japan’s largest insurance group.

Rajat Mukherjee (Partner), Rohit Ambast (Principal Associate) Shruti Singh (Principal Associate), and Siddharth Sawhney (Senior Associate) led the transaction and advised on the Corporate aspects with assistance from Ritu Shaktawat (Associate Partner) on the Tax aspects.