Shardul Amarchand Mangaldas and Co. advises on Rs. 450 crore investment by IFC in Apollo Health and Lifestyle Limited

| Updated: Dec 07, 2016 23:21 IST

New Delhi [India], Dec 7 (ANI-NewsVoir): Shardul Amarchand Mangaldas and Co. acted as the legal counsel to International Finance Corporation (IFC) and IFC EAF Apollo Investment (both part of World Bank Group) in relation to acquisition of a minority stake (29 percent stake) in Apollo Health and Lifestyle Limited (AHLL) for an aggregate value of Rs. 450 crore. AHLL is a part of the Apollo Hospitals Group, India's largest healthcare provider and runs multi-speciality clinics across 17 states. The investment will be used for increasing AHLL's network of clinics along with cradle and diagnostics centers across the country. The General Corporate team of Shardul Amarchand Mangaldas and Co. advised on all aspects of the transaction including drafting and finalization of transaction documents. The transaction team was led by Puja Sondhi, Partner and included Aayush Kapoor, Principal Associate; Sumeet Singh, Principal Associate; Sushrut Biswal, Senior Associate; Vasundhara Garg, Senior Associate and Anant Mishra, Associate. The parties involved in the transaction were International Finance Corporation and IFC EAF Apollo Investment Company (together the Investors) and Apollo Health And Lifestyle Limited and Apollo Hospitals Enterprise Ltd. (Investee companies) Other advisors to the transaction were Cyril Amarchand Mangaldas (represented Apollo Health And Lifestyle Limited and Apollo Hospitals Enterprise Ltd.) and Spark Capital (financial advisor to the IFC). The deal was signed on October 26, 2016 and was closed on December 1, 2016. (ANI-NewsVoir)
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