Four law firms have advised on a multiphase transaction involving a primary INR24.75 billion (USD298 million) Rasmeli investment in Apollo Healthco, a subsidiary of Apollo Hospitals Enterprise.
Apollo Healthco operates Apollo 24|7, which is an omnichannel healthcare platform, allowing patient access to a range of medical and ancillary support services across various healthcare products.
Shardul Amarchand Mangaldas & Co (SAM) acted for Apollo Healthco and Apollo Hospitals, with partners Puja Sondhi, Aayush Kapoor and Roma Das leading the team. Senior associates Prerna Saroha and Harjas Singh assisted the team. Partner Harman Singh Sandhu led the competition law team.
AZB & Partners advised Apollo Hospitals, with senior partner Aarthi Sivanand and partner Bhavana Alexander leading the team, and senior associate Bhargavi Ravi provided support.
Cyril Amarchand Mangaldas (CAM) counselled Rasmeli, a Cyprus-based investment entity managed by Advent International. Partners Vandana Sekhri, Arun Prabhu, Anand Jayachandran and Sonakshi Arora led the CAM team, with support from associates Hina Tolani, Deval Dangayach and Kabeer Jay.
Ropes & Gray was international legal counsel to Rasmeli involving compliance with anti-corruption and anti-money laundering laws.
Rasmeli will acquire a 16.9% stake in Apollo Healthco, with the first tranche of INR17.32 billion completed on 27 September 2024.
The transaction also includes Apollo Healthco’s primary and secondary investments in Keimed for INR7.25 billion, along with their merger.
Apollo Healthco has successfully acquired a 1.96% stake in Keimed through a secondary investment of INR1.25 billion in the first tranche.
Veda Corporate Advisors provided financial advice to Apollo Healthco and its shareholders.
EY advised on transaction and tax matters for Advent, while Deloitte Touche Tohmatsu assisted as financial advisers.
