Private Equity major Blackstone is selling its 13% equity stake in Pune-based pharmaceutical Emcure Pharmaceuticals to Bain Capital. Blackstone is selling its stake for Rs. 650 crore, according to ET.

The Delhi office of AZB & Partners advised Bain Capital with a team led by Partner Anil Kasturi along with Senior Associate Niladri Maulik while the Mumbai office of AZB & Partners advised Blackstone with Mumbai Partner Shuva Mandal.

Simpson Thatcher acted as International legal counsel for Blackstone with a team led by Partner Mark Pflug

Kirkland & Ellis acted as International legal counsel for Bain Capital. The Kirkland team was led by Partner Srinivas Kaushik.

ALMT Legal advised Emcure with a team led by Partner Hitesh Jain.

Blackstone had invested Rs 226 crore in Emcure through convertible shares and held 13.09 per cent stake, reports VCCircle.