Private equity (PE) boutique firm Lexygen advised TA Associates in acquiring a nearly 16 per cent stake in Luthra & Luthra's clients Dr Lal PathLabs for Rs 163 crore by picking up half of Sequoia Capital’s stake in the diagnostics and pathology services company.
AZB & Partners acted for Sequoia Capital which has retained the other half owned in Dr Lal PathLabs in this secondary sale after its 2005 investment in the diagnostics company.
Lexygen managing partner Vijay Sambamurthi and his team consisting of principal associate Soumit Mohapatra and senior associate Madhumita Sangma led for the buyer side.
Luthra & Luthra partner Bobby Chandhoke on the other hand represented the target company while AZB partner Gautam Saha advised the seller group.
The deal-making activity in the Indian healthcare and pharmaceuticals industry has reached $2.3bn mark since 1996 whereas this year's figures indicate 13 deals worth $366m till date, reported financial news portal VCCircle.
AZB, Lexygen, Luthra advise on PE healthcare buy from Sequoia
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