Deal Closed | Edelweiss Financial Services Limited | Restructuring

The details of the details are as under

Sector: Financial Services

Announcement Date: 27th August 2020

Completion date: Edelweiss Financial Services Limited

Name of Client: Edelweiss Financial Services Limited

The Edelweiss Group runs the country’s second-largest wealth management business, sold 51 percent stake in the vertical to private equity firm PAG Partners for Rs 2,200 crore on Thursday.

Edelweiss Wealth Management managed assets worth about Rs 1.27 lakh crore from about 6.1 lakh clients, as of June 2020. In the first quarter of FY21, they clipped at a 44 percent cumulative annualized growth rate, from Rs 18,500 crore FY15 to Rs 1.27 trillion. 

Target Name: Edelweiss Financial Services Limited (formerly Forefront Capital Management Pvt Ltd) | India

Deal Description: Advised Edelweiss Financial Services Limited on structuring and regulatory aspects on the purchase of majority stake by PAG Partners in the wealth management business of the group.

Total Consideration: INR 2200 crores (USD 299.3 million)

Team Members: Nikhilesh Panchal, Mehul Shah, Aman Yagnik, Yashashree Mahajan, Amit Pai, Rushabh Gala and Jamsheed Dadachanji

Role of Firm: Advised Edelweiss Financial Services Limited on structuring and regulatory aspects on purchase of majority stake by PAG Partners in the wealth management business of the group.

Other legal advisors: Trilegal advised Edelweiss Financial Services Limited on the Transaction and AZB Partners advised PAG Partners