Novartis AG has sold its entire shareholding of Novartis India Limited, representing 70.68% of the equity share capital, to WaveRise Investments Limited, ChrysCapital Fund X and Two Infinity Partners (which form part of the ChrysCapital group).
AZB & Partners advised Novartis AG on this transaction.
The transaction team consisted of Darshika Kothari (Senior Partner), Kritika Agarwal (Partner), Arnav Shah (Counsel), Associates Ashwin Vardarajan and Siddharth Tandon. They were supported by the following:-
SEBI regulatory aspects: Harini Balaji (Senior Consultant), Abhilash Chandran (Partner), Prerak Ved (Partner), Associates Akash Kumar Prasad and Hardik Batra;
Litigation aspects: Rajendra Barot (Senior Partner), Prabhav Shroff (Partner), Ayush Chaddha (Senior Associate);
Tax aspects: Aditya Singh Chandel (Partner), Suhail Bansal (Senior Associate), Sarvagya Bilgaiyan (Senior Associate);
Due diligence and other aspects: Nishanth Ravindran (Partner), Nandan Pendsey (Partner), Avinash Subramanian (Partner), Shailesh Singh (Senior Associate), Rhea Ghanshani (Senior Associate), Riddhi Tulshian (Senior Associate), Aditya Mukherjee (Senior Associate), Harshit Jaiswal (Senior Associate), Jay Shah (Senior Associate), Associates Apurva Vats, Deepti Prabhu, Parvathy Suresh, Vivek Ilawat and Pratyush Chaturvedi;
Antitrust aspects: Bharat Budholia (Senior Partner), Kirthi Srinivas (Partner), Varun Thakur (Senior Associate), Shivangi Pradhan (Associate).
Freshfields acted as international legal counsel to Novartis AG on this transaction.
The transaction team was led by Arun Balasubramanian (Partner, Singapore) and Piusha Bose (Counsel London), the co-heads of India Group. They were supported by Associates Shavonne Oh (Singapore), Rahul Karia (London) and Lucy Ryde (London).
IP advice was provided by Richard Bird (Partner, Hong Kong) and Harshavardhan Ganesan (Associate, Singapore).
Tax advice was provided by Paul Davison (Partner, London) and Jonathan Bowering (Associate, London).
Novartis has had a significant presence in India since 1947. The company focuses on innovative science and digital technologies to develop transformative treatments addressing critical medical needs.
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