Khaitan & Co Advised Nichepharm Lifesciences And Its Promoters On Buyback Of Shares From Recipharm AB.
Khaitan & Co Advised Nichepharm Lifesciences And Its Promoters On Buyback Of Shares From Recipharm AB.
Khaitan & Co has advised Nichepharm Lifesciences (P) Ltd. and its promoters, Chetan Sobti and Nitin Sobti, on the buyback of equity shares from Recipharm AB.
Uttarakhand-based pharmaceutical company Nichepharm Lifesciences, has acquired a 24% stake from its joint venture partner, Recipharm AB of Sweden. This buyback has transitioned Nichepharm back to a fully family-owned business.
In 2019, Nichepharm had entered into a joint venture with Recipharm. The Swedish company is a contract development manufacturing organization (CDMO), which helped set up a greenfield site in Uttrakhand with the Sobtis. Recipharm had taken an 8% stake in Nichepharm for approximately Rs 85 crore in 2019, with the option to pick up an additional 16% in 2021. The Sobtis have now bought this back.
The Khaitan & Co deal team comprised of Partner Purti Minawala and Associate Yash Bhagwat.
