Sumitomo Mitsui Financial Group’s Acquisition Of A Majority Stake In Fullerton India Credit Company Limited

Slaughter and May, working in conjunction with Anderson M?ri & Tomotsune and AZB & Partners, advised Sumitomo Mitsui Financial Group on the deal.

Sumitomo Mitsui Financial Group (“SMFG”) acquired a 74.9% equity stake in Fullerton India Credit Company Limited (“FICC”) from Fullerton Financial Holdings Pte. Ltd., a wholly-owned independent portfolio company of Temasek, for approximately US$2bn. The acquisition remains subject to regulatory approval.

FICC has a strong pan-Indian distribution network with more than 650 branches and offers unsecured loans and loans against property, mainly to SMEs, the self-employed, and mass market customers.

Slaughter and May’s team included Paul Dickson (Picture), Partner, Chris McGaffin, Partner, David Hughes, Associate, Luke Rowland, Associate, Matthew Carey, Associate, Duncan McEwan, Trainee, Teodora Stanoeva, Trainee, Gareth Miles, Partner, Tomas McGrath, Associate, Stephen Elhabbal, Associate, David Ives, Partner, Oliver Howley, Associate and Heather Catchpole, Associate.

Involved fees earner: Matthew Carey – Slaughter and May; Heather Catchpole – Slaughter and May; Paul Dickson – Slaughter and May; Stephen Elhabbal – Slaughter and May; Oliver Howley – Slaughter and May; David Hughes – Slaughter and May; David Ives – Slaughter and May; Chris McGaffin – Slaughter and May; Tomas McGrath – Slaughter and May; Gareth Miles – Slaughter and May; Luke Rowland – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Sumitomo Mitsui Financial Group Inc.;

Federica Tiefenthaler

Author: Federica Tiefenthaler