Shanghai Fosun Pharmaceutical, a leading Chinese health care provider, has signed an agreement to buy an 86 per cent stake in Hyderabad-based Gland Pharma for $1.26 billion (Rs.8,500 crore)..This is the largest acquisition of an Indian company by a Chinese firm and the biggest inbound M&A so far this year, reported ET..After this deal, Gland Pharma, the Indian generic injectable pharmaceutical products company backed by global private equity giant KKR, is valued at $1.46 billion..Khaitan & Co represented Fosun International through a team led by Partner Niren Patel and including Principal Associate Vivek Sriram, Senior Associate Vidur Sinha, and Associate Niharika Mepani..Cyril Amarchand Mangaldas acted as counsel for Gland Pharma and KKR, through a team led by Partner Reeba Chacko..Troutman Sanders LLP (Shanghai), led by Partner Chengfei Ding, acted as foreign counsel on the deal for Fosun..Simpson Thacher and Bartlett (Hong Kong) acted as foreign counsel for Gland Pharma and KKR, through Partners Kathryn Sudol, Shannon Itoyama and Counsel Ian Ho.
Shanghai Fosun Pharmaceutical, a leading Chinese health care provider, has signed an agreement to buy an 86 per cent stake in Hyderabad-based Gland Pharma for $1.26 billion (Rs.8,500 crore)..This is the largest acquisition of an Indian company by a Chinese firm and the biggest inbound M&A so far this year, reported ET..After this deal, Gland Pharma, the Indian generic injectable pharmaceutical products company backed by global private equity giant KKR, is valued at $1.46 billion..Khaitan & Co represented Fosun International through a team led by Partner Niren Patel and including Principal Associate Vivek Sriram, Senior Associate Vidur Sinha, and Associate Niharika Mepani..Cyril Amarchand Mangaldas acted as counsel for Gland Pharma and KKR, through a team led by Partner Reeba Chacko..Troutman Sanders LLP (Shanghai), led by Partner Chengfei Ding, acted as foreign counsel on the deal for Fosun..Simpson Thacher and Bartlett (Hong Kong) acted as foreign counsel for Gland Pharma and KKR, through Partners Kathryn Sudol, Shannon Itoyama and Counsel Ian Ho.