Khaitan & Co advises Olympus Corporation in relation to sale of Olympus Corporation wholly owned subsidiary EVIDENT Co., Ltd. to Bain Capital Private Equity, LP.

   

DEAL DETAILS

Olympus Corporation | Divestment of Science Solutions Business in India

NO

HEADINGS

DETAILS

1.

Sector

Medical Equipment

2.

Announcement Date

29-Aug-2022

3.

Completion Date

 
4.

Name of Client

Olympus Corporation

5.

Transferor Details

Olympus Medical Systems India Private Limited | India

6.

Transferee Details

Evident Scientific Private Limited | India

7.

Deal Description

Advised Olympus Corporation in relation to sale of Olympus Corporation (“Olympus”) wholly owned subsidiary EVIDENT Co., Ltd. (“Evident”) to Bain Capital Private Equity, LP (“Bain Capital”) for ¥ 427.6 billion (USD 3.1 billion). As per the definitive agreement, shares of Evident will be transferred to Bain Capital on 4 January 2023, subject to regulatory approvals and closing conditions (“Transaction”). Evident conducts scientific solutions business in the fields of life science and industrial applications which involves development, manufacturing, sales and provision of solutions for biological microscopes, industrial microscopes, industrial videoscopes and fiberscopes, non-destructive testing equipment, and X-ray analyzers. The scientific solutions business of Olympus was transferred to Evident in April 2022.

8.

Total Consideration

JPY 427.6 billion (USD 3.1 billion)

9.

Team Members

The India leg of the transaction was led by Zakir Merchant (Partner) with the core team involving Divakar Gupta (Senior Associate), Gaurav K Sharma (Associate) with assistance from the following:

Employment Law aspects: Anshul Prakash (Partner) and Abhisek Choudhury (Senior Associate)


Intellectual Property aspects: Nishad Nadkarni (Partner) and Reshma Gupte (Principal Associate)


Tax aspects: Vinita Krishnan (Director) and Sneh Shah (Principal Associate)

10.

Role of Firm

Khaitan & Co assisted Olympus Corporation

11.

Other legal advisors if any with names of Lead Lawyers

TMI Associates, Japan

12.

Press Coverage

https://www.olympus-ims.com/en/press-release/olympus-to-transfer-evident/ https://www.gadgetsnow.com/tech-news/japans-olympus-to-sell-microscope-unit-to-bain-for-3-billion/articleshow/93856181.cms

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