Shardul Amarchand Mangaldas & Co. advises ChrysCapital on CCI approval for their investment in Intas
May 1, 2020
Shardul Amarchand Mangaldas & Co. provided legal and strategic advice to the ChrysCapital group from a competition law perspective, in relation to the proposed acquisition of less than 5% shareholding of Intas Pharmaceuticals Limited. The CCI approval was secured amidst the Covid-19 lockdown, on 30 April, 2020.
The Proposed Transaction marks the CCI’s changed approach in evaluating private equity investments. The CCI is now assessing such investments lot more closely where the number of overlaps between portfolio companies are significant and there is a right to appoint a nominee on the board of directors. Further, the CCI is scrutinizing any potential coordinated or unilateral effects of the investment with a keen eye, even if it only concerns the acquisition of a non-controlling minority stake. This is especially important for sector focused funds looking to make investments in direct competitors.
The Competition team was led by Aparna Mehra, Partner, and included, Anjali Kumar, Associate, Neetu Ahlawat, Associate, Abhiruchi Jhawar, Associate, Kshitij Sharma, Associate and Ritika Sood, Associate.
Strategic inputs were provided by Mrs. Pallavi Shroff, Managing Partner and Ms. Gunjan Shah, Partner.
Other advisors on the transaction were Sapient Econ, which prepared the economic analysis from a competition law perspective and Platinum Partners, which advised on corporate and competition law aspects.
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