SH advises Piramal on $640 million stake in Vodafone Essar
28 August 2011
International law firm Stephenson Harwood has advised Piramal Healthcare in relation to the English law aspects of its acquisition of a strategic equity stake in Indian mobile phone operator, Vodafone Essar Limited (VEL) for $640 million.
This is the latest in a series of instructions undertaken by Stephenson Harwood for Piramal Healthcare and follows the firm's work last year on the disposal of Piramal's Domestic Formulations division, to US pharmaceuticals giant Abbott for a cash consideration of $3.72 billion.
Stephenson Harwood's client relationship partner for Piramal, Andrew Edge, commented: "We are delighted to have been able to help Piramal once more with a strategic transaction of this nature. The company is on record believing that now is a time of extraordinary opportunity in India and its hard to disagree with that view."
Andrew Edge drew on support from banking partners Nick Avery and David Lacey in giving advice in relation to this acquisition. In India, S & R Associates advised Vodafone and Amarchand Mangaldas advised Piramal with Crawford Bayley assisting on ancillary issues. Vodafone drew on advice from Linklaters and Slaughter & May on the English law aspects.