DEAL DETAILS
Zydus Lifesciences Limited |Acquisition of 50% equity stake in Sterling Biotech
Khaitan & Co advised Zydus Lifesciences Limited (Zydus) in relation to acquisition of 50% equity stake through its wholly owned subsidiary, in Sterling Biotech from Perfect Day Inc. a Temasek portfolio company, to enter into fermentation-based protein business for a total consideration of INR 550 crores subject to certain adjustments with respect to cash and debt (including debt like items) as mentioned in the definitive agreements.
Post this transaction, Sterling Biotech has become a 50:50 Joint Venture with equal representation on the Board.
The deal was led by Bhavik Narsana (Partner) along with Nirav Punjani (Principal Associate) and Pragya Mishra (Associate) along with Zydus legal team lead by Mukund Thakkar (Sr. VP Legal), Kalpit Lodha (General Manager) and Randall Williams (Deputy Manager).
Corporate: Abheepsita Purkayastha (Associate), Niharika Jain (Associate) and Nishant Sharma (Associate);
Banking and Finance Team: Kumar Saurabh Singh (Partner), Ashwij Ramaiah (Principal Associate), Aaryan Mohan (Associate), Akash Mukherjee (Associate), Kartikey G (Associate) and Saumya Agarwal (Associate);
Real Estate: Amit Wadhwani (Partner), Agarwal Rahul (Senior Associate) and Karan Thakkar (Associate);
Litigation: Kingshuk Banerjee (Partner), Arnav Mohanty (Principal Associate) and Shayan Dasgupta (Principal Associate);
Employment Law: Deepak Kumar (Partner), Archika Dudhwewala (senior Associate) and Sidheswar Sahoo (Associate);
Intellectual Property: Nishad Nadkarni (Partner) and Riya Karkera (Associate).