Cyril Amarchand Mangaldas advises Swiss Parenterals Limited (“Swiss”) in acquisition of its 70% stake by Eris Lifesciences Limited (“Eris”) and its Promoter group. Eris, an Indian branded formulations company, for the expansion of its sterile injectables footprint acquired 51% equity stake in Swiss, a leading player in the sterile injectables business in 80+ emerging markets across Africa, the Asia Pacific, and Latin America, with two manufacturing facilities in Gujarat, accredited by 50+ regulatory authorities worldwide including the EU-GMP, Brazilian Anvisa, Mexican Cofepris and the Australian TGA. Eris’ Promoter group concurrently acquired additional 19% equity stake in Swiss thereby bringing the total equity stake of Eris and its Promoter group in Swiss to 70%.
Cyril Amarchand Mangaldas’ team conducted a vendor legal due diligence and reviewed and negotiated transaction documents for Swiss.
The General Corporate team of Cyril Amarchand Mangaldas advised on the transaction. The transaction team was led by Ravi Shah, Partner; with support from Avani Dalal, Principal Associate; and Bhakti Madan, Senior Associate.
Lakshmi Prakash, Partner; with support from Kushal Rohira, Principal Associate Designate; assisted on issuance of NCD related aspects of the transaction.
The due diligence team was led by Ravi Shah, Partner; with support from Avani Dalal, Principal Associate; Bhakti Madan, Senior Associate; Vidhi Shah, Associate; Arushi Bindal, Associate; Preet Choksi, Associate; and Divyansh Sharma, Associate.
The transaction was signed on 13th February, 2024 and closed on 15th February, 2024. ____________________________________________
About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. The Firm is one of the largest full-service law firm in India and offices in key business centers at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm received “National Law Firm of the Year: India” at the IFLR Asia-Pacific Awards for the second consecutive years in 2023 and 2022 and “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2022.
