Khaitan & Co advised Viatris Inc., a global pharmaceutical company, on it’s proposed sale of shares held in Biocon Biologics Ltd (“BBL”) for cash + swap of shares with shares in Biocon Ltd (“BL”), through a preferential allotment by BL. Biocon will acquire the stake held by Mylan Inc. (“Viatris”) for a total consideration of USD 815 million, of which USD 400 million will be payable in cash and USD 415 million through a share swap of BL shares.
The firm advised Viatris on Indian aspects of structuring and transaction documentation.
The deal was assisted by:
Banking & Finance: Rajeev Vidhani (Partner) and Krishnendu Sen (Counsel)
Competition / Antitrust: Anisha Chand (Partner) and Yatharth Vardhan Singh (Senior Associate)
Direct Tax: Ritu Shaktawat (Partner) and Husain Bohra (Senior Associate)
Capital markets: Aditya Cheriyan (Partner) and Chirayu Chandani (Partner)
The core team consisted of Rabindra Jhunjhunwala (Partner), Abhishek Dadoo (Partner), Aman Anand (Principal Associate), Gaurang Mansinghka (Senior Associate) and Nitya Saxena (Associate).