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Veritas acts on $39m Recipharm acquisition of remaining 26% stake of Nitin Lifesciences with Khaitan

Recipharm acquired the remaining 26% stake of NLL from its existing shareholders in 2 stages. The first stage for a cash consideration, has been completed on 2 January 2018. The second stage for the acquisition of the balance of the share capital of NLL is proposed to be completed during the first half of 2018, for which the consideration is proposed to be paid in newly issued Recipharm shares (subject to receipt of regulatory approvals). Post this, Recipharm will own 100% of NLL, according to the company.

Veritas Legal advised Recipharm AB led by a team of partner Nandish Vyas, senior associate Natasha Sethna, and associate Tejasvi Saxena.

Recipharm also relied on PricewaterhouseCoopers.

Khaitan & Co acted for selling family and Nitin LifeSciences Limited, led by partner Kalpana Unadkat, principal associate Pranay Bagdi and associate Bidya Mohanty.

2018-01-02

Deal value: Rs 2.8 crore (approx)

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