{"id":46174,"date":"2024-12-11T10:37:05","date_gmt":"2024-12-11T10:37:05","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=press_releases&p=46174"},"modified":"2024-12-11T10:37:54","modified_gmt":"2024-12-11T10:37:54","slug":"cyril-amarchand-mangaldas-cam-advised-aster-dm-on-the-merger-of-quality-care-owned-by-blackstone-and-tpg-with-aster-dm","status":"publish","type":"press_releases","link":"https:\/\/my.legal500.com\/developments\/press-releases\/cyril-amarchand-mangaldas-cam-advised-aster-dm-on-the-merger-of-quality-care-owned-by-blackstone-and-tpg-with-aster-dm\/","title":{"rendered":"Cyril Amarchand Mangaldas CAM advised Aster DM on the merger of Quality Care (owned by Blackstone and TPG) with Aster DM."},"content":{"rendered":"

Cyril Amarchand Mangaldas (\u201cCAM\u201d) advised Aster DM on the merger of Quality Care (owned by Blackstone and TPG) with Aster DM.<\/strong> This is the largest deal in the Indian hospital sector, and the combined entities are valued at US$ 5.08 billion. The resulting entity will be amongst the three largest Indian hospital chains.<\/p>\n

The transaction was led by\u00a0Anand Jayachandran,\u00a0<\/strong>Partner;<\/em>\u00a0Sonakshi Arora,\u00a0<\/strong>Partner;\u00a0<\/em>with support from\u00a0Sheetal S\u00a0<\/strong>(Principal Associate<\/em>);\u00a0Rohit Maheshwary <\/strong>(Associate<\/em>); Hina Tolani\u00a0<\/strong>(Associate<\/em>); and\u00a0Ayushi Mehta<\/strong>\u00a0(Associate<\/em>).<\/p>\n

Avaantika Kakkar\u00a0<\/strong>(Head – Competition<\/em>);\u00a0Dhruv Rajain\u00a0<\/strong>(Partner<\/em>); with support from\u00a0Aman Baroka\u00a0<\/strong>(Principal Associate<\/em>);\u00a0Ananya Mahant\u00a0<\/strong>(Associate<\/em>);\u00a0Vanya Agarwal\u00a0<\/strong>(Associate<\/em>);\u00a0Vrinda Gundam\u00a0<\/strong>(Associate<\/em>), and\u00a0Pushkar Singh\u00a0<\/strong>(Associate<\/em>) advised on competition law related matters.<\/p>\n

The overall due diligence on Quality Care was led by\u00a0Aditya Prasad<\/strong>\u00a0(Partner<\/em>); with support from\u00a0Abhilasha Malpani\u00a0<\/strong>(Principal Associate<\/em>); and\u00a0Utkarsh Jhingan <\/strong>(Senior Associate – Designate<\/em>).<\/p>\n

Kritika Dobhal\u00a0<\/strong>(Associate<\/em>),\u00a0Disha Tulsyan<\/strong>\u00a0(Associate<\/em>), Vishwa Patel\u00a0<\/strong>(Associate<\/em>),\u00a0Neerali Nanda\u00a0<\/strong>\u00a0(Associate<\/em>),\u00a0Digvijay S\u00a0<\/strong>(Associate<\/em>),\u00a0and\u00a0Tannvi R\u00a0<\/strong>(Associate<\/em>)\u00a0assisted with due diligence on corporate related matters.<\/p>\n

Tanvi Apte\u00a0<\/strong>(Associate<\/em>) and\u00a0Poorva Bhatia\u00a0<\/strong>(Associate<\/em>) assisted with due diligence on financing related matters.<\/p>\n

Ashwin Sapra<\/strong>\u00a0(Partner<\/em>); with support from\u00a0Kartik Jain\u00a0<\/strong>(Principal Associate<\/em>);\u00a0Anant Mishra\u00a0<\/strong>\u00a0(Associate<\/em>) and\u00a0Kartik Agarwal\u00a0<\/strong>(Associate<\/em>) assisted with due diligence on regulatory related matters.<\/p>\n

Abhilash Pillai\u00a0<\/strong>\u00a0(Partner<\/em>); with support from\u00a0Ritha Ulbyre\u00a0<\/strong>(Principal Associate<\/em>);\u00a0Siddhant S\u00a0<\/strong>(Senior Associate<\/em>),\u00a0Yashvi Shah\u00a0<\/strong>(Senior Associate<\/em>),\u00a0Yash Jain\u00a0<\/strong>(Associate<\/em>),\u00a0Madhurashree Rajkumar\u00a0<\/strong>(Associate<\/em>),\u00a0Shivani Subbaiah\u00a0<\/strong>(Associate<\/em>); and\u00a0Akshaya BS\u00a0<\/strong>\u00a0(Associate<\/em>) assisted with due diligence on real estate related matters.<\/p>\n

Arun Prabhu\u00a0<\/strong>(Partner<\/em>); with support from\u00a0Arpita Sengupta\u00a0<\/strong>(Principal Associate<\/em>);\u00a0Soumya Tiwari\u00a0<\/strong>(Associate<\/em>);\u00a0Diksha Joshi\u00a0<\/strong>(Associate<\/em>); and Himanshi Mahajan\u00a0<\/strong>(Associate<\/em>) assiste with due diligence on intellectual property and information\u00a0technology related matters.<\/p>\n

Bishen Jeswant\u00a0<\/strong>\u00a0(Partner<\/em>); with support from Krithika Radhakrishnan\u00a0<\/strong>(Principal Associate<\/em>),\u00a0Kunal Sharma\u00a0<\/strong>(Senior Associate<\/em>), and\u00a0Kriti Singh\u00a0<\/strong>(Associate<\/em>) assisted with due diligence on employment related matters.<\/p>\n

Edward James\u00a0<\/strong>(Partner<\/em>); with support from\u00a0Aashish Dafaria\u00a0<\/strong>(Principal Associate<\/em>)\u00a0assisted with due diligence on litigation related matters.<\/p>\n

Sindhushri Badarinath\u00a0<\/strong>(Partner<\/em>); with support from\u00a0Rudra Tripathi\u00a0<\/strong>(Senior Associate<\/em>),\u00a0Mayank Jain\u00a0<\/strong>(Associate<\/em>), and\u00a0Aarav Prasad\u00a0<\/strong>(Associate<\/em>) assisted with ESOP related matters.<\/p>\n

Other parties to the transaction involved: Moelis & Company <\/strong>(Acted as Banker to Aster DM Healthcare Limited)<\/em>; Advay Capital Advisors Private Limited <\/strong>(Acted as Banker to Aster DM Healthcare Limited)<\/em>; KPMG <\/strong>(Acted as Accounting and Tax Advisor to Aster DM Healthcare Limited)<\/em>; Kotak Mahindra Capital Company Limited <\/strong>(Acted as Advisor to Aster DM Healthcare Limited)<\/em>; Blackstone <\/strong>(Acted as Seller)<\/em>; <\/strong>TPG<\/strong> (Acted as Seller)<\/em>; NovaaOne Capital Pvt. Ltd. <\/strong>(Acted as Financial Advisor to Blackstone)<\/em>; Deloitte Touche Tohmatsu India LLP <\/strong>(Advised on<\/em> Financial Due Diligence, Tax Due Diligence and ESG Due Diligence for Aster DM Healthcare Limited)<\/em>; Alvarez & Marsal India Private Limited <\/strong>(Advised on<\/em> IT Due Diligence for Aster DM Healthcare Limited)<\/em>; GAA Advisory<\/strong> (Advised on<\/em> Technical Due Diligence for Aster DM Healthcare Limited<\/em>); EY (<\/strong>Advised on<\/em> Commercial Due Diligence for Aster DM Healthcare Limited<\/em>); Doulah & Doulah <\/strong>(Acted as Offshore Counsel for Aster DM Healthcare Limited)<\/em>; AON <\/strong>(Acted as Insurance Broker for Aster DM Healthcare Limited)<\/em>; ICICI Securities Limited <\/strong>(Fairness Opinion for Aster DM Healthcare Limited)<\/em>; <\/strong>and PwC Business Consulting Services LLP <\/strong>(Valuer to Aster DM Healthcare Limited).<\/em><\/p>\n

The transaction was signed on 29th<\/sup> November, 2024.<\/p>\n

\n

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