Mumbai-based firm Wakhariya & Wakhariya and Bachubhai Munim & Co have advised in Novartis Pharma's 49 per cent $22.3m acquisition of Aventis Pharma’s equity in anti-rabies vaccine manufacturer Chiron Behring Vaccines.

Wakhariya & Wakhariya managing partner Shabbir S Wakhariya and M&A partner Rahul R Mahajan led the transaction for Novartis which already owned 51 per cent in the Indian joint venture company.

Bachubhai Munim & Co partner Atul Munim acted as legal counsel to the seller group Aventis Pharma which along with Novartis was a joint venture partner in Chiron Behring that produces the largest selling anti-rabies vaccination called Rabipur in India.

With the acquisition Chiron Behring Vaccines became a wholly owned subsidiary of the Novartis group.