Cyril Amarchand Mangaldas advises Swiss Parenterals Limited in acquisition of its 70% Stake by Eris Lifesciences Limited and its Promoter group.

February 27, Ahmedabad/Mumbai: Cyril Amarchand Mangaldas advises Swiss Parenterals Limited (“Swiss”) in acquisition of its 70% stake by Eris Lifesciences Limited (“Eris”) and its Promoter group.Eris, an Indian branded formulations company, for the expansion of its sterile injectables footprint acquired 51% equity stake in Swiss, a leading player in the sterile injectables business in 80+ emerging markets across Africa, the Asia Pacific, and Latin America, with two manufacturing facilities in Gujarat, accredited by 50+ regulatory authorities worldwide including the EU-GMP, Brazilian Anvisa, Mexican Cofepris and the Australian TGA. Eris’ Promoter group concurrently acquired additional 19% equity stake in Swiss thereby bringing the total equity stake of Eris and its Promoter group in Swiss to 70%.

Cyril Amarchand Mangaldas’ team conducted a vendor legal due diligence and reviewed and negotiated transaction documents for Swiss.

The General Corporate team of Cyril Amarchand Mangaldas advised on the transaction. The transaction team was led by Ravi Shah, Partner; with support from Avani Dalal, Principal Associate; and Bhakti Madan, Senior Associate.

Lakshmi Prakash, Partner; with support from Kushal Rohira, Principal Associate Designate; assisted on issuance of NCD related aspects of the transaction.

The due diligence team was led by Ravi Shah, Partner; with support from Avani Dalal, Principal Associate; Bhakti Madan, Senior Associate; Vidhi Shah, Associate; Arushi Bindal, Associate; Preet Choksi, Associate; and Divyansh Sharma, Associate.

The transaction was signed on 13^th February, 2024 and closed on 15^th February, 2024.