SAM, CAM act on Eris Lifesciences acquiring remaining stake in Swiss Parenterals for ₹423.3 crore

Eris Lifesciences Limited is set to acquire 30% of the total share capital of Swiss Parenterals Limited (in which ELL currently holds 70% of the share capital) from Mr. Naishadh Shah (Director, SPL), for an aggregate consideration of ₹423.30 crore.

The consideration will be discharged by Eris by way of issuance of equity shares of ELL to Mr. Naishadh Shah, on a preferential basis.

Shardul Amarchand Mangaldas & Co is advising Eris Lifesciences on this transaction.

The transaction team was led by Nivedita Tiwari (Partner) and Devesh Pandey (Partner), with support from Kuhuk Jain (Principal Associate), Associates Anushka Ganguli and Sourav Paul.

Gouri Puri (Partner), Rahul Yadav (Partner) and Nimish Malpani (Principal Associate) advised Eris on the tax related aspects pertaining to the transaction.

Cyril Amarchand Mangaldas is advising Swiss Parenterals and Mr. Naishadh Shah on this transaction. The Firm reviewed and negotiated the share purchase subscription agreement and various documents in relation to preferential allotment for Swiss and the Shah and assisted with the execution and will be assisting with closing related aspects of the transaction.

The transaction team was led by Ravi Shah (Partner), with support from Arushi Bindal (Senior Associate) and Aesha Shah (Associate).

Last year, Eris Lifesciences had acquired a majority equity stake in Swiss Parenterals, a leading player in the sterile injectables business in 80+ emerging markets across Africa, the Asia Pacific, and Latin America, for the expansion of its sterile injectables footprint.

Upon completion of the proposed acquisition, subject to receipt of necessary stock exchange approvals, Swiss Parenterals will become a wholly owned subsidiary of Eris Lifesciences.

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