Whalesbook
CPP Group has completed the sale of its entire 100% shareholding in its Indian subsidiary, CPP Assistance Services Private Limited. The buyer is One Assist Consumer Solutions Private Limited along with its affiliate, and the transaction is valued at ₹174 crore.
CPP India is involved in offering various assistance and protection services. It provides these services through white-labelled products, collaborating with major Indian entities such as banks, Non-Banking Financial Companies (NBFCs), and fintech firms.
JSA Advocates & Solicitors advised CPP Group on the corporate and tax aspects of this transaction, managing negotiation, execution of documents, and closing. The advisory team included partners Ajay G. Prasad and Kumarmanglam Vijay, along with other associates.
Impact: This divestment allows CPP Group to restructure its operations or focus on other markets. For One Assist Consumer Solutions, the acquisition strengthens its market position in the Indian consumer assistance and protection services sector, potentially leading to increased competition and new service offerings for Indian consumers.
Rating: 5/10
Difficult Terms:
White-labelled products: Services or products that a company rebrands and sells as its own, manufactured or developed by another company.
NBFCs: Non-Banking Financial Companies are financial institutions that provide banking-like services but do not hold a full banking license.