Cyril Amarchand Mangaldas represented Medicover (“Seller”) on the sale of 100% stake in Sahrudaya Health Care Private Limited (“SHCPL”) to KKR, for an equity consideration of approximately EUR 1,200,000,000 (subject to adjustments).
The Seller, a holding company of Medicover held ~65% in SHCPL, and SHCPL in turn has 5 subsidiaries which together operate 26 hospitals across Telangana, Andhra Pradesh, Karnataka and Maharashtra.
The transaction was led by Reeba Chacko, Senior Partner; and Kota Chandan, Partner; with support from Yash Chadha, Associate.
Lakshmi Prakash, Partner; advised on the third-party financing repayment structuring and ECB assignment.
Bharath Reddy, Partner; with support from Dipti Khatri, Principal Associate; advised on the ESOP settlement mechanism.
Arpita Sengupta, Partner; with support from Yash Chadha, Associate; advised on the transitional license agreement.
Sharada Ramachandra, Partner; advised on certain corporate matters.