Direct Tax

Khaitan & Co advised funds managed by American Industrial Partners in connection with their entry into definitive documents for the sale of MolyCop Group to Tega Industries in partnership with funds managed by Apollo Global Management and assisted with Closing of the India leg of the transaction i.e., sale of MolyCop India Pvt Ltd to Tega MC JV Holdings Pte. Ltd. MolyCop is a leading global supplier of grinding mediums for the mining industry.

Khaitan & Co advised IIFL Finance Ltd in relation to the update of its existing USD 1 billion Global Medium Term Note Programme (GMTN Programme) on the IFSC Gift City stock exchanges (India INX and NSE IX). The notes which will be issued under this GMTN Programme will be issued in compliance with Rule 144A and Regulation S of the U.S. Securities Act, 1933. The Hongkong and Shanghai Banking Corporation Ltd, J.P.

Khaitan & Co advised Capri Global Capital Ltd ("Company") on its debut USD 1 billion Global Medium Term Note Programme ("GMTN Programme") for the issuance of bonds under Rule 144A and Regulation S of the U.S. Securities Act, 1933 thereunder ("Notes"). The Notes will be listed on the stock exchanges in IFSC GIFT City.

Khaitan & Co advised Milky Mist Dairy Food Ltd and its promoters in relation to a pre-IPO primary investment of INR 482 crores by Jongsong Investments Pte. Ltd., an indirect wholly owned subsidiary of Temasek Holdings. 

Khaitan & Co advised Everstone in its 100% acquisition of the Qlar group, from BCP Pinot S.à r.l., a Blackstone entity, for an approximate deal value between USD 150-200 million. The transaction was structured as a multi-step leverage buy-out, involving several jurisdictions including India, Germany and The Netherlands. The transaction was financed through a combination of equity and debt (including both external commercial borrowing and domestic borrowing).

Khaitan & Co advised FMC Corporation on its divestment of India crop protection commercial business to Crystal Crop Protection Limited for a total consideration of USD 252 million.

Khaitan & Co advised Pi Labs, an early-stage VC fund based in the UK, on the India law aspects of its investment in VerbaFlo Ltd. Pi Labs led funding round of VerbaFlo Ltd, which also included Haatch, Navigate Ventures, Old College Capital (University of Edinburgh’s in-house venture investment fund), global family offices and existing investors.

Khaitan & Co advised Forever Global Enterprises Ltd on its proposed acquisition of the Meerganj Unit of Dhampur Bio Organics Ltd by way of a slump sale as a going concern for a total consideration of INR 305 crores. 

The firm advised on the structuring and documentation of the BTA and ancillary documents.

Khaitan & Co is representing Amneal Pharmaceuticals, LLC (Amneal) as India counsels, alongside Simpson Thacher & Bartlett LLP in relation to its announced agreement to acquire 100% of Kashiv Biosciences LLC ("Kashiv"), a vertically integrated biopharmaceutical company incorporated in the United States of America, with 2 (two) subsidiaries in India (namely, Kashiv Biosciences Pvt Ltd and Kashiv Research Pvt Ltd), in a transaction with consideration that includes USD 375 million of cash and USD 375 mill

Khaitan & Co acted as the lead counsel to Federal Bank on the acquisition of a segment of Standard Chartered Bank’s Indian credit card portfolio. The Firm played a key role in structuring and executing the transaction, including undertaking legal due diligence on the portfolio, advising on complex legal and regulatory considerations, leading negotiations, and drafting and finalising the transaction documents.