TTA for Sanofi as Khaitan-client Zentiva buys $36m Gujarat manufacturing unit (Sep 19)

Wednesday, 13 May 2020 By Legally India Corporate M&A

Shares of Sanofi India declined more than 2 percent intraday on September 11 after the company approved sale of its Ankleshwar unit. The company board approved a transaction for the slump sale and transfer of its manufacturing facility at Ankleshwar, Gujarat to Zentiva and its legal entity in India, Zentiva Private Limited for a consideration of Rs 261.7 crore, subject to customary working capital adjustments.

— Moneycontrol

Khaitan & Co advised Zentiva Group led by a core transaction team of partner Surbhi Kejriwal, senior associate Varun Narayan, associate Kanika Mathew; due diligence included principal associate Shantanu Gupta, senior associate Sneha Oak Joshi, associate Srijanee Bhattacherjee; on employment and labour aspects advised partner Anshul Prakash, senior associate Abhimanyu Pal; on regulatory aspects was partner Atul Pandey, and senior associate Hirak Mukhopadhyay.

Update 14 May 2020: Talwar Thakore & Associates (TT&A) advised Sanofi India Limited led by a team including partner Kunal Thakore and senior associate Rebha Dakshini.

2019-09-11

Deal value: USD 36 million

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Khaitan & CoTalwar Thakore & Associates

Comments

Ex KCO 13 May 2020, 18:07
+2 -1
Well done KCO Team and special mention to Atul and Surbhi who are excellent in their respective domains and amongst most knowledgable lots in KCO.
Name or Alias 14 May 2020, 08:26
+5 -3
That's a pretty large team for a relatively small transaction.
3 Partners, 1 PA, 4 SAs, 1 Associate on the credit roll.

Separate teams for Transaction, DD, Labour, Regulatory.
While seller had its own (credible) counsel.

Seems very top heavy.
Ex KCO 14 May 2020, 11:05
+3 -2
That is for most KCo deals
Strength 15 May 2020, 13:05
+3 -3
Showcases strength of a law firm, which is probably the only big full services law firm. Further, it also shows that Khaitan believes in sharing credit with teams and partners assisting the core team executing the deal.

Also if you have an idea of how deals work, sell-side deal team will involve lesser people.
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