Shardul Amarchand Mangaldas & Co acted as the legal counsel to International Finance Corporation (IFC) and IFC EAF Apollo Investment (both part of World Bank Group) in relation to acquisition of a minority stake (29% stake) in Apollo Health and Lifestyle Limited (AHLL) for an aggregate value of Rs 450 Cr. AHLL is a part of the Apollo Hospitals Group, India’s largest healthcare provider and runs multi-speciality clinics across 17 states. The investment will be used for increasing AHLL’s network of clinics along with cradle and diagnostics centres across the country.

The General Corporate team of Shardul Amarchand Mangaldas & Co advised on all aspects of the transaction including drafting and finalisation of transaction documents. The transaction team was led by Puja Sondhi, Partner; and included Aayush Kapoor, Principal Associate; Sumeet Singh, Principal Associate; Sushrut Biswal, Senior Associate; Vasundhara Garg, Senior Associate and Anant Mishra, Associate.

The parties involved in the transaction were International Finance Corporation & IFC EAF Apollo Investment Company (together the Investors) and Apollo Health and Lifestyle Limited and Apollo Hospitals Enterprise Ltd. (Investee companies)