Khaitan & Co acted as domestic legal counsel and Troutman Sanders as international counsel to Fosun Pharma, which on 3 October completed its acquisition of a majority stake in Gland Pharma.
The acquisition is the largest overseas acquisition by a Chinese pharmaceutical company and the largest acquisition of an Indian company by a Chinese buyer.
When the deal was initially announced, in July 2016, the Chinese pharmaceutical company was to acquire all the shares of Gland Pharma owned by US private equity investor KKR and shares of its other shareholders. Cyril Amarchand Mangaldas (CAM) was domestic legal counsel and Simpson Thacher & Bartlett was international counsel to KKR and Gland Pharma.
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