JSA, Rajani Singhania steer FIPB-free Japanese pharma buy after DIPP note

Thursday, 30 April 2015 By Prachi Shrivastava Corporate M&A

J Sagar Associates (JSA) advised the shareholders of Lilac Medicare on selling it off to Japan’s Tosoh Corporation and Singapore’s Tosoh Asia which were advised by Rajani Singhania & Partners.

JSA partner Sidharrth Shankar, senior associate Shantanu Jindel and associates Prakriti Jaiswal and Priyam Singh acted for Lilac.

Rajani partner Reena Grover acted for Tosoh.

This is a notable transaction in the pharma space, which did not require the approval of the Foreign Investment Promotion Board, after the Department of Industrial Policy and Promotion notified Press Note 2 of 2015, according to JSA’s press release.

The $7.5bn Tosoh is one of the largest chlor-alkali manufacturers in Asia, reported Business Standard.

J Sagar Associates (JSA)Rajani Singhania & Partners

Comments

On call discussion 1 May 2015, 03:39
+2 -1
Jindal Sahab, the great!
Pharma Counsel 2 May 2015, 15:26
+2 -1
Can you please elaborate why the FIPB approval wasnt required? PN 2 of 2015 exempted non compete in medical devices. It did not take away the requirement of FIPB approvalfor brownfield investment.
Carma Phounsel 4 May 2015, 14:53
+1 -0
Medical devices company.
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