CAM, Khaitan act on Biocon Limited acquiring stake in Biocon Biologics from Serum, Viatris

Biocon Limited is set to acquire a stake in Biocon Biologics Limited from Serum Institute and Viatris Inc.

Biocon Limited will acquire the stake in Biocon Biologics from Serum Institute through a share swap, valued at ₹2,250 crore.  

Biocon Limited will acquire the stake in Biocon Biologics from Viatris for a total consideration of $815 million, of which $400 million will be payable in cash and $415 million through a share swap arrangement.

Cyril Amarchand Mangaldas advised Serum Institute on this transaction.

The transaction team was led by Anchal Dhir (Partner), with assistance from Varun Kannan (Senior Associate), Mahin Rai (Senior Associate) and Animesh Pandey (Associate). 

Avaantika Kakkar (Partner, Head - Competition) advised on competition law aspects of the transaction. 

Khaitan & Co advised Viatris Inc on this transaction.

The core transaction team consisted of Rabindra Jhunjhunwala (Partner), Abhishek Dadoo (Partner), Aman Anand (Principal Associate), Gaurang Mansinghka (Senior Associate) and Nitya Saxena (Associate) with assistance from the following:

Banking aspects: Rajeev Vidhani (Partner) and Krishnendu Sen (Counsel);

Anti-trust aspects: Anisha Chand (Partner) and Yatharth Vardhan Singh (Senior Associate);

Taxation aspects: Ritu Shaktawat (Partner) and Husain Bohra (Senior Associate);

Capital markets aspects: Aditya Cheriyan (Partner) and Chirayu Chandani (Partner).

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