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 advised Nuvoco Vistas Corporation in relation to acquisition by Nuvoco Vistas Corporation of Algebra Endeavour Pvt Ltd (along with its subsidiary Vadraj Energy (Gujarat) Ltd) from JSW Cement Ltd and Alpha Alternatives Holdings Pvt Ltd for a total consideration of INR 200 crores.
The Firm represented Nuvoco Vistas Corporation in entire acquisition, including due diligence and negotiations of the documentation.
Khaitan & Co advised CBRE Group, Inc. in relation to acquisition of Pearce Services LLC, a leading provider of advanced technical services for digital and power infrastructure, from New Mountain Capital. The initial purchase price is approximately $1.2 billion in cash plus a potential earn-out of up to $115 million, subject to Pearce meeting certain performance thresholds in 2027.
The Firm assisted Sullivan & Cromwell with respect to the due diligence, review of transaction documentation, regulatory advisory, and overall transaction advisory.
Khaitan & Co Advised Aranda Investments Pte. Ltd. and Macritchie Investments Pte. Ltd. (Temasek entities) on corporate and IPO related aspects in connection with the sale of equity shares held by the Temasek Entities, in the IPO of Pine Labs. Ltd
Khaitan & Co acted as the Indian legal counsel to RateGain Travel Technologies, a global provider of AI-powered SaaS solutions for the hospitality and travel industry, on (a) its acquisition of Sorjun Inc., a US-based technology company, in an all-cash deal for US$250 million; and (b) raising acquisition financing of US$125 million from HSBC and Citibank.
Khaitan & Co advised Ashra Private Equity Fund (a scheme of Shepherds Hill Private Equity Trust) on participation in the Series C1 round issued by Buildwealth Technologies Pvt Ltd (dba Wealthy).
