DEALS

Authority of India at its meeting held on 2 June 2023 to conduct life insurance business in India. Go Digit Life’s registration takes the number of life insurance companies in India to 26. Backed by Kamesh Goyal, Oben Ventures is a promoter of Go Digit Life, which is among the first few companies to have obtained registration as an insurer under the recently issued IRDAI (Registration of Indian Insurance Companies) Regulations 2022. Go Digit Life marks the foray of Kamesh Goyal, the founder of Go Digit General Insurance, in the life insurance space. Partners Shailaja Lall, Anu Susan Abraham and Ashish Teni led the firm’s team in the transaction.

Simpson Thacher is representing Blackstone on its US$450 million sale of a minority stake in IBS Software to funds advised by Apax Partners. Following the transaction, Apax will partner closely with IBS Software’s Founder and Executive Chairman, V K Mathews, who will remain the majority shareholder. IBS Software is a leading SaaS solutions provider to the travel industry globally, managing mission-critical operations for customers in the aviation, tour & cruise, hospitality, and energy resources industries. IBS Software’s solutions for the aviation industry cover fleet & crew operations, aircraft maintenance, passenger services, loyalty programs, staff travel and air-cargo management. Partners Ian Ho , Jonathan Stradling , Jonathan Goldstein , Sophie Staples , Jamin Koslowe and Étienne Renau deau led the firm’s team in the transaction, which is subject to customary closing conditions and is expected to close by end of the second quarter of 2023.