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CAM acts for Wockhardt on $259m slump sale of 62 brands, HP unit to Dr Reddy Labs with Platinum

Wockhardt, which is reeling under heavy debt and is trying to deleverage its balance sheet, has agreed to sell multiple products and a manufacturing facility to Dr Reddy’s Laboratories. In a regulatory filing, Wockharrdt said Dr Reddy’s Labs will acquire 62 products and its unit in Baddi, Himachal Pradesh in a slump sale for a consideration of Rs 1,850 crore. — The Economic Times

Cyril Amarchand Mangaldas advised Wockhardt Limited led by a team of Transaction team was led by partner Ramgovind Kuruppath, and partner Gautam Gandotra, with support from senior associate Archit Bhatnagar, senior associate Arnav Shah, The Taxation team led by Daksha Baxi, Head International Taxation, with support from , principal associate Surajkumar Shetty, and senior associate Ankit Namdeo., The Competition Law team was led by partner Anshuman Sakle, with support from principal associate Kaustav Kundu.

Update 1 July 2020: Platinum Partners advised Dr Reddy's Laboratories Limited led by a team including partner Gautam Bhat, associate Unnati Divecha, associate Stuti Khosla, associate Abhimanyu Sharma, associate Shalini Panigrahi.


Deal value: Rs 1850 crores; $259m

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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