Pioneer Legal, Trilegal, Sanfirst Law, Freshfields, Ropes act on Carlyle acquiring majority stake in VLCC

The Carlyle Group has acquired a majority stake in VLCC Health Care Limited for approximately ₹2,455.5 crores (approx. $300 million).

Pioneer Legal acted for VLCC Health Care Limited and its founders Mukesh Luthra and Vandana Luthra and other shareholders on Indian Law.

The Firm advised on transaction structure, reviewing and negotiating purchase agreements, shareholders agreements and other deal documents for hive-off of business, consolidation of shareholding of various shareholders, intellectual property rights, escrow agreements, employment agreements etc. The Firm also liaised with local counsels for advice on laws of different jurisdictions.

The transaction team consisted of Satish Kishanchandani (Managing Partner), Anupam Shukla (Partner), Sameer Raina (Principal Associate), Pavana Padmakumar (Senior Associate), and Vedika Shah (Associate).

Trilegal acted as Indian Counsel for the Carlyle Group in this transaction.

The deal was led by Corporate Partners Nishant Parikh, Harsh Maggon, Sneha Vardhan and Pranav Atit. Atul Gupta (Labour and Employment); Rahul Arora (Real Estate); Tine Abraham (Dispute Resolution); and Jyotsana Jayaram (TMT) were other key Partners involved in the Trilegal team.

They were supported by attorneys including Kirti Balasubramanian, Kanishka Maggon and Shivani Rawat, Counsels; Vyshnav Karthik, Soumya Bhargava, Disha Jha, Rachana Rautray and Neha Vijayvargi, Senior Associates; Siddhant Nair, Shreya Shenolikar, Vishesh Mehrotra, Swati Agrawal, Priya Venkatesan, Pavitra Naidu, Yash Modi, Saptarshi Das, Apoorva Singh, Varun Bhargava, Bhavik Shukla, Tania Gupta, Harshit Anand, Gaurav Utagikar, Jojongandha Ray, Angelika Awasthi and Madhav Tampi, Associates; Vadiraja PS, Senior Consultant; Ansif Latheef, Consultant.

Sanfirst Law Practice acted as Mauritius counsel for the founders of VLCC.

Freshfields Bruckhaus Deringer acted as Foreign counsel for the Carlyle Group in this transaction.

Ropes and Gray acted as Foreign counsel for the Carlyle Group in this transaction.

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