DSK Legal advised Finar Limited and its promoters Mr. Girish Maheshwari, Mr. Amit Maheshwari and other selling shareholders (‘Shareholders’), for the divestment of their entire stake in Finar Limited (‘Finar’) to Aceto Pharma (India) Private Limited, part of Aceto Corporation.
Finar is a life sciences company, having its GMP certified manufacturing base at Ahmedabad, Gujarat, India. Finar is a manufacturer of laboratory chemicals, and has over 1000 products including pharmaceutical excipients and solvents, food grade additives, aquaculture specialties and safety & hygiene products.
Headquartered in New York, Aceto is a leading global player having business operations in nine countries and distributes over 1,100 chemical compounds used principally by the pharmaceutical, nutraceutical, agricultural, and specialty chemical industries. Aceto is owned by New Mountain Capital (NMC), New York. NMC acquired Aceto in April 2019.
DSK Legal assisted Finar and its Shareholders on all legal and transaction advisory matters including inter alia: (i) structuring of the transaction; (ii) drafting, negotiating and finalizing the definitive transaction documentation, including termsheet, share purchase agreement, shareholders agreement, escrow agreement, employment agreements etc.; (iii) assisting in completion of conditions precedent to closing and achieving closing of the transaction; and (iv) assistance in relation to obtaining FDI approval from Department of Pharmaceuticals, Government of India.
Date of Execution of Definitive Transaction Documentation: April 18, 2021.
Date of Closing for transfer of 70% of the share capital of Finar: May 13, 2021.
The DSK core team representing Finar and its Shareholders, for the transaction comprised of Mr. Harvinder Singh, Partner, Ms. Shubhi Ameriya, Senior Associate and Mr. Manhar Gulani, Associate.
Mr. Aparajit Bhattacharya, Partner, acted as the lead/relationship partner on the transaction representing Finar and its Shareholders.
Aceto was represented by AZB & Partners.
Lincoln International acted as the exclusive financial advisor to Finar and its Shareholders.