ELP acts on Lupin acquisition of AFDIL’s brands

Anglo French Drugs & Industries Limited (AFDIL), AFD Laboratories Private Limited and Abhay Kanoria sold a portfolio of brands owned by them to Lupin Limited for ₹325 crore.

Economic Laws Practice (ELP) advised Anglo French Drugs & Industries Limited (AFDIL), AFD Laboratories Private Limited and Abhay Kanoria on the deal.

The transaction team consisted of Suhail Nathani (Managing Partner), Aakanksha Joshi (Partner), Taskeen Hamid (Counsel), Shenaya Ardeshir & Pranaav Gupta (Associates).

The indirect tax aspects was led by Adarsh Somani (Partner) with the assistnace of Sahil Kothari (Principal Associate)

The deal is to take place in cash and the funds from the brand sale would be utilised towards research and development of newer brands/products and the upgradation of its manufacturing facilities.

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