Shardul Amarchand Mangaldas & Co. (SAM) acted as the legal advisor for an on-market sale of 8.93% shareholding in Cohance Lifesciences Limited (formerly Suven Pharmaceuticals Limited) for approximately USD 350 million (INR 3,093 Crores), by Jusmiral Holdings Limited, which is controlled by funds managed by Advent International.
SAM has earlier advised Advent in its control acquisition of Suven Pharmaceuticals Limited by way of a share purchase and mandatory open offer. SAM also advised on the subsequent merger of Cohance with and into Suven, upon which Suven was renamed as Cohance.
The SAM transaction team was led by Ambarish, Partner; Krishaal Morjaria, Principal Associate; and Varun Natarajan, Senior Associate. The securities law team was led by Kanwardeep Singh Kapany, Counsel. Ameya Gokhale, Partner and Kriti Kalyani, Principal Associate, also provided inputs.