July 27, 2023
Shardul Amarchand Mangaldas advised UBS Group AG (“UBS”) and Credit Suisse Group AG (“Credit Suisse”) on obtaining antitrust clearance and related advisory in India, in relation to their merger. The deal is valued at approximately CHF 3 billion (approximately USD 3.3 billion).
Pursuant to the transaction, Credit Suisse has merged with UBS and the combined entity will operate as a consolidated banking group. The SAM & Co. team engaged with the Competition Commission of India (“CCI”) extensively for an expedited approval of the transaction, which was cleared within 22 calendar days from the date of filing.
The competition law team was led by Naval Satarawala Chopra, Partner; Harman Singh Sandhu, Partner; Manika Brar, Partner; Neetu Ahlawat, Principal Associate; Apurv Jain, Associate and Shivek Sahai Endlaw, Associate.
Freshfields Bruckhaus Deringer acted as Global Transaction Advisor for UBS.
Sullivan & Cromwell acted for Credit Suisse.
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