Freshfields Bruckhaus Deringer
“Procter & Gamble has agreed to acquire Merck KGaA’s consumer health unit for 3.4 billion euros ($4.2 billion), giving it vitamin brands such as Seven Seas and greater exposure to Latin American and Asian markets,” reported CNBC. The transaction involved the acquisition of Merck Limited, a listed Indian company, through Procter & Gamble Overseas India B.V, including 3,300 Merck employees. A mandatory tender offer to minority shareholders will be made for the Indian entity.
Freshfields Bruckhaus Deringer has topped the mergermarket value league table of international law firms that advised on M&A deals in the record 2016 calendar year.
Freshfields Bruckhaus Deringer London-based partner and India practice head Pratap Amin has retired from the firm and is in the process of deciding whether to go independent as a consultant or joining a UK or Indian company in-house.
"The acquisition is the biggest foreign acquisition ever in India and Russia’s largest outbound deal. Billionaire brothers Shashi and Ravi Ruia have agreed to sell 98 per cent of Essar Group flagship firm Essar Oil to Russian oil major Rosneft and a consortium of oil trading firm Trafigura with private investment group United Capital Partners for $13 billion, making it the largest foreign direct investment in India.” reported The Hindu and others.
Shearman & Sterling, DLA Piper, White & Case and Allen & Overy had the largest number of recorded Indian M&A deals in the first six months of 2016, according to data intelligence provider mergermarket, each with five or four transactions.
Nirma will buy Lafarge India’s assets for $1.4bn from LafargeHolcim according to reports, with several law firms getting a slice of the action including Ashwath Rau’s old and new firm.
Read on for the hottest M&As, fundraisings and financings of the fortnight.
Obhan & Associates acted for publisher Penguin Random House in its purchase of Ananda Publishers’ stake in Penguin Books India.
Linklaters India partner set to join Magic Circle rival.