The Hong Kong office of Debevoise & Plimpton has advised Capital International (“Capital”) in its acquisition of an 11% stake in Mankind Pharma, one of India’s leading pharmaceutical companies, from another private equity seller, ChrysCapital.
Under the terms of the agreement, Capital will pay approximately $200 million in cash for ChrysCapital’s entire equity stake, valuing Mankind Pharma at $2.1 billion. Capital will be the only outside shareholder, with the promoter family retaining the remaining 89% of the company.
Mankind was established in 1995 with an investment of approximately $100,000. The company has a strong presence in India's over-the-counter space.
Capital International Private Equity Funds, managed by Capital International Inc., is one of the most established emerging markets private equity investors and has more than 20 years of private equity experience focused solely on the emerging markets. Founded in 1931, Capital International, Inc. is an institutional investment manager and one of The Capital Group Companies, which is privately owned by senior and recently retired employees.
The Debevoise team advising Capital was led by partner E. Drew Dutton and associate Parveet Singh Gandoak, assisted by counsel Philip Rohlik and international counsel Andy Y. Soh.
Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.