Shardul Amarchand Mangaldas provided advisory services to Eris Lifesciences Limited (“Eris”) in the acquisition of a majority stake in Swiss Parenterals Limited (“SPL”) from the current shareholders of SPL, facilitated by Eris and specific individual buyers. The overall deal value amounts to approximately INR 875 Crores (USD 105.38 million). The consideration involved a mix of cash and the issuance of secured, redeemable non-convertible debentures by Eris.
Following the successful completion of the transaction, Eris now possesses a 51% share in the capital of SPL, while the collective stake of the individual purchasers stands at around 19% of SPL’s share capital.
This strategic move enhances Eris’s capabilities in the sterile injectables segment.
The transaction team, led by Nivedita Tiwari (Partner), Devesh Pandey (Partner), Shailesh Singh (Principal Associate), and Anushka Ganguli (Associate), played a pivotal role.
The financing team, under the leadership of Shilpa Mankar Ahluwalia (Partner), Shubhangi Garg (Partner), Utsav Dubey (Principal Associate), Purva Anand (Associate), and Gunjan Shrivastav (Associate), contributed to the successful execution of the deal.
The tax team, led by Gouri Puri (Partner) and Rahul Yadav (Counsel), ensured compliance with relevant tax considerations.
Ritwik Bhattacharya (Partner) provided guidance on the competition law aspects.
Cyril Amarchand Mangaldas advised SPL and the Sellers on the legal aspects of the transaction.
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