QBE Holdings Pty Limited entered into Share Purchase Agreement to acquire remaining 51% stake in Raheja QBE General Insurance Company Limited from Prism Johnson Limited for INR 3.2 billion.
QBE Holdings (AAP) Pty Limited entered into Share Purchase Agreement to acquire remaining 51% stake in Raheja QBE General Insurance Company Limited from Prism Johnson Limited (BSE:500338) for INR 3.2 billion on March 2, 2026. A cash consideration of INR 3.24 billion will be paid by QBE Holdings (AAP) Pty Limited. Upon completion, QBE Holdings (AAP) Pty Limited will own 100% stake in Raheja QBE General Insurance Company Limited.
The transaction has been approved by the board of Prism Johnson Limited. The completion of the proposed transaction is subject to completion of the conditions precedent set out in the Share Purchase Agreement, including receipt of requisite approvals, including approval of the shareholders of Prism Johnson Limited and approval of the IRDAI. The proposed transaction will be completed on or before the date falling 9 months from the execution date of the Share Purchase Agreement.
Indranath Bishnu and Anirud Sudarsan R of Cyril Amarchand Mangaldas acted as legal advisor to QBE Holdings (AAP) Pty Limited. Ashwyn Misra, Komal Dani, Sampath Kumar, Monik Damania, Divya Shetty, and Raveena Khetwani of Trilegal acted as legal advisor to Prism Johnson Limited.
Prism Johnson Limited is an India-based building materials company. The Company operates through three segments: Cement, Tile and Bath (HRJ), and Ready Mixed Concrete (RMC). The Cement segment has a cement production capacity of 5.6-meganewton tons at Satna in Madhya Pradesh. The Company makes Portland Pozzolana Cement (PPC) under various brands, including Champion, Champion Plus, Champion All Weather and Duratech, as well as Ordinary Portland Cement (OPC). The HRJ segment offers an end-to-end solution in tiles, sanitaryware and bath fittings, engineered marble and quartz, and construction chemicals. The HRJ segment has ceramic products, which are sold under various brands, including Johnson Tiles, Johnson Marbonite, Johnson Porselano, Johnson Endura, Johnson Bathrooms and Johnson Marble & Quartz. The RMC segment is a ready-mixed concrete manufacturer. The Company operates approximately 102 ready-mixed concrete plants in over 47 cities across the country.
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QBE Holdings Pty Limited entered into Share Purchase Agreement to acquire remaining 51% stake in Raheja QBE General Insurance Company Limited from Prism Johnson Limited for INR 3.2 billion.
