Desai & Diwanji advised Chennai-based active pharmaceutical ingredients (API) manufacturer Anjan Drug when it sold a controlling stake to Stepahead Business Services, a subsidiary of Singapore-based joint venture Gamot API.
Terms of the deal, which was signed on 3 August and closed on 9 October, were not disclosed.
Gamot API consists of a three-member consortium: PAG Capital, CX Partners and Samara Capital. AZB & Partners advised PAG Capital, while Platinum Partners advised CX Partners and Samara Capital.
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