Khaitan & Co advised BirlaNu Ltd, a listed company of the CKA Birla Group, in relation to its 100% acquisition of the equity share capital of Clean Coats Pvt Ltd, for a cash consideration of up to INR 120,00,00,000 (Indian Rupees One Hundred and Twenty Crores). 

The Firm acted as the legal counsel to BirlaNu for the entire transaction and conducted a legal due diligence on Clean Coats and advised on the transaction documents including the share purchase agreement, completion and regulatory and listed company aspects.

Khaitan & Co advised Siemens Ltd in relation to the sale and transfer of the low voltage motors and geared motors businesses, including the related customer service operations of Siemens Ltd to Innomotics India Pvt Ltd, a global leading provider of electric motors and large drive systems, as a going concern by way of a slump sale, for a consideration               (enterprise value) of INR 2,200 crore, on a cash-free, debt-free basis, subject to mutually agreed adjustments. 

Khaitan & Co advised the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investors, on its investment in the KKR-backed education platform Lighthouse Learning Group (formerly EuroKids International). This investment was made alongside a related follow-on investment by KKR. 

The Firm supported PSP Investments on the transaction, including advising on the investment structure, conducting legal due diligence, and assisting with the transaction documentation.

Khaitan & Co advised India-based PB Healthcare Services Pvt Ltd, in relation to its acquisition of Noida-based Muskan Medical Centre Pvt Ltd (dba as Neo Hospital).

Khaitan & Co assisted the Wolters Kluwer Group, a global leader in professional information, software, and services for the healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, and corporate performance and ESG sectors, on the divestment of their India Financial Risk and Regulatory Reporting (FRR) Business to Regnology Group GmbH. 

Khaitan & Co advised JSW Ispat Steel Ltd in relation to the transfer of the steel business of Bhushan Power and Steel Ltd by way of a slump sale for a cash consideration of INR 24,483 crores and investment of a total of INR 15,750 crores by JFE in two tranches; and (c) Joint venture between JSW Steel Limited and JFE in the business.

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.

Khaitan & Co advised Hexaware Technologies Ltd, a listed Indian entity, and its affiliate, in relation to 100% acquisition of Target Entities (i.e., Cybersolve (I) India Pvt Ltd, Identity and Access Solutions LLC, IT Gliterz LLC, Identity and Access Solutions Canada, Inc.) from IAAS Holdings LLC, IT Gliterz Holdings LLC, Anushree Agarwal and Neha Agarwal for a total consideration of USD 66 million.

Khaitan & Co advised Rajadhiraja Ltd (Creador VI L.P.) in its ~USD 56 million acquisition of an 11.8% stake in IKF Finance Ltd from Accion Digital Transformation Fund, L.P. (Accion) and Teachers Insurance and Annuity Association of America (TIAA). 

The scope of work included (a) conducting a legal due diligence on IKF Finance Ltd; and (b) deal structuring, negotiation and finalisation of the transaction documents along with closing of the transaction.

Khaitan & Co represented the Book Running Lead Managers before the Bombay High Court in writ proceedings seeking a stay on the IPO of WeWork, alleging inadequate DRHP disclosures. The Division Bench dismissed the writ petition, affirming full regulatory compliance and diligent disclosures.