Shardul Amarchand Mangaldas & Co. advises Eris Lifesciences Limited on the acquisition of a majority stake in Swiss Parenterals Limited

February 23, 2024

Shardul Amarchand Mangaldas advised Eris Lifesciences Limited (“Eris”) on the acquisition of a majority stake in Swiss Parenterals Limited (“SPL”) from the existing shareholders of SPL by Eris and certain individual purchasers. The aggregate deal value is approximately INR 875 Crores (USD 105.38 million). The consideration was paid through a combination of cash consideration and issuance by Eris of secured, redeemable non-convertible debentures.

 

After completion of the transaction, Eris holds 51% of the share capital of SPL and the individual purchasers, collectively, hold ~19% of the share capital of SPL.

 

The transaction augments the capability of Eris in the sterile injectables segment.

 

The transaction team was led by Nivedita Tiwari, Partner; Devesh Pandey, Partner; Shailesh Singh, Principal Associate; and Anushka Ganguli, Associate.

 

The financing team was led by Shilpa Mankar Ahluwalia, Partner; Shubhangi Garg, Partner; Utsav Dubey, Principal Associate; Purva Anand, Associate; and Gunjan Shrivastav, Associate.

 

Tax team was led by Gouri Puri, Partner and Rahul Yadav, Counsel.

 

Ritwik Bhattacharya, Partner advised on the competition law aspects.

 

SPL and the Sellers were advised by Cyril Amarchand Mangaldas on the legal aspects.