Max Group financing for property acquisition

Harneys advised Standard Chartered Bank on Cyprus law matters in relation to a $70 million financing given to the Max Group in order to allow the group to acquire property in the United Kingdom, where part of the security package for the financing was a security agreement given by a Cypriot entity.

The Max Group is a leading Indian multi-business conglomerate with a commanding presence in life insurance, health and allied businesses and manufacturing. Max Financial Services Limited (MFS), a part of the US$2 billion Max Group, is the holding company for Max Life, India’s largest non-bank, private life insurance company.

Harneys lawyers who worked on this deal were partner Nancy Erotocritou, senior associate Styliani Constantinou and associate Stephanie Havatzias.