Khaitan & Co advises Elder Pharmaceuticals on sale of business to Torrent
Khaitan & Co has advised Elder Pharmaceuticals Ltd in relation to the sale of some of Elder’s branded domestic formulations business in India and Nepal to Torrent Pharmaceuticals Ltd by way of a slump sale for a lump sum consideration of $324m (£193m) approximately.
Elder Pharmaceuticals is an integrated pharmaceutical player, headquartered in Mumbai, with a strong presence in the domestic formulation business and listed on Indian stock exchanges.
Partners Haigreve Khaitan and Bhavik Narsana led the transaction and advised on the corporate aspects, with assistance from partners from various practice areas. Khaitan & Co acted as the legal counsel to Elder and assisted in deal documentation, negotiations, transaction advice, including banking and finance, competition law, employment law, intellectual property, tax (direct and indirect), and other aspects on the transaction.
News from Khaitan & Co
Briefings from Khaitan & Co
ERGO Perspective: HMA dispute resolution in India; indemnities in cross-border M&A transactions; and more
The current difficult operating environment in India is straining owner/operator relationships and is conducive of disputes.
The Consolidated FDI Policy was released by the Department of Industrial Policy and Promotion and the Ministry of Commerce and Industry on 17 April 2013.