NDA Represents SVB Financial Group in Sale of Its India Business to First Citizens Bank
Posted by By nishithadmin at 22 May, at 14 : 39 PM Print
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NDA REPRESENTS SVB FINANCIAL GROUP IN SALE OF ITS INDIA BUSINESS TO FIRST CITIZENS BANK
DEAL BRIEF
The SVB Financial Group sold 100% stakes in SVB Global Services India LLP (“SVB India”), to the First Citizens Bank Group (“Buyers”). SVB India provided technical support and IT services to global operations of SVB Financial Group. With this transaction, SVB India was fully acquired by the Buyers (“Transaction”). This Transaction was a part of the larger global bankruptcy restructuring of SVB Financial Group initiated in 2023..
OUR ROLE
We at Nishith Desai Associates, represented SVB Financial Group in the Transaction from an Indian legal, regulatory and tax perspective. We also helped the client navigate through the Indian regulatory framework to consummate the Transaction. Sullivan & Cromwell LLP assisted the client on the US law aspects of the Transaction.
DEAL TEAM
DISCLAIMER
The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.
This Hotline provides general information existing at the time of preparation. The Hotline is intended as a news update and Nishith Desai Associates neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this Hotline. It is recommended that professional advice be taken based on the specific facts and circumstances. This Hotline does not substitute the need to refer to the original pronouncements.
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