Acquisition of Edelweiss Gallagher Insurance Brokers Limited (“EGIBL”) by Gallagher Group, USA (“Gallagher”).
Gallagher has entered into a Share Purchase Agreement with Edelweiss Group to acquire balance 70% stake in EGIBL for ~ USD 40 million, taking its aggregate shareholding to 100%.
Gallaghar is a global insurance broker, risk management services and consulting firm.
EGIBL, a part of Edelweiss Group, offers general insurance solutions to clients across India. The business operates across four areas; corporate, affinity & association, reinsurance & global and digital solutions.
Dhruva Advisors acted as the tax advisors to Gallagher on the transaction.