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Amarchand, Luthra on record Daiichi $3.2bn block sale of Sun Pharma shares

Amarchand Mangaldas’ Mumbai-region and Davis Polk & Wardwell advised Daiichi Sankyo on the $3.2bn sale of its 8.93 per cent stake in Sun Pharmaceutical. Luthra & Luthra and Freshfields Bruckhaus Deringer advised Goldman Sachs which was the sole book runner for the deal.

This deal, which was done by block sale of shares in the open market using the screen-based platform of stock exchanges, is the largest bulk deal on the Indian markets, according to an Amarchand press release.

Amarchand Bangalore partner Nivedita Rao and Davis partner Michael Davis acted for Daiichi.

Luthra Mumbai partner Manan Lahoty and Freshfields Singapore partner Arun Balasubramanian acted for Goldman Sachs.

Last year Sun Pharma had bought debt-ridden pharma giant Ranbaxy from Daiichi for $4bn with Amarchand, Luthra and Crawford Bayley advising.

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