FDI

Representative Matters

• Advised on the India leg of global spin-off from Abbott Laboratories, a US listed company (and its various global subsidiaries’) of its research-based pharmaceuticals’ division including proprietary pharmaceuticals and biologics into AbbVie Inc. (and its various global subsidiaries), which was subsequently also listed at the global level. The transaction in India involved structuring the multiple models of the transaction, drafting and advising on the complex transaction documentation and the FIPB / company incorporation process.
• Advised on investment by Farallon Capital Management LLC in a string of seven project vehicles which are subsidiaries of Indiabulls Real Estate for a total consideration of INR 1,172 crore. It was one of the first instances of Foreign Direct Investment in the real estate sector in India. This transaction marks one of the largest exits by a foreign investor in the Indian real estate sector.
• Advised Mylan Inc (one of the world’s leading generics and specialty pharmaceutical companies) on acquisition of Agila Specialties Division from Strides Arcolab Limited, India, including structuring, regulatory and policy framework including obtaining prior approval of FIPB and Cabinet Committee on Economic Affairs (the investment being a brownfield acquisition in the sector above than USD 250 million), contractual relations and competition issues. The deal value was USD 1,600 million approx.
• Advised Trimex International FZE in structuring its Foreign Direct Investment into an Indian company set up primarily for engaging in the mining, mineral separation and value addition of certain restricted minerals. The structuring of the transaction had to be done to ensure that at all stages of operation, the company is in compliance with various mining related laws. The firm obtained the Foreign Investment Promotion Board (FIPB) approval for foreign direct investment into an Indian company.
• Advised Alliance Capital on setting up of a mutual fund in India including in setting up the trustee company in India and obtaining approvals from regulatory authorities.
• Advised Yamaha in connection with their joint venture with Escorts, a leading Indian corporate house, for motorcycle manufacturing, including tax planning, obtaining permissions from the regulatory authorities including the Foreign Investment Promotion Board (FIPB) and the Reserve Bank of India.