Indian Law Firms JSA and Trilegal Provide Legal Counsel on $2 Billion Temasek-Manipal Hospitals Deal

Indian Law Firms JSA and Trilegal Provide Legal Counsel on $2 Billion Temasek-Manipal Hospitals Deal

JSA, a top Indian law firm, provided legal counsel to Temasek Holdings in its purchase of a controlling stake in Manipal Hospitals, a Bengaluru-based healthcare facility. Temasek has procured an additional 41 per cent stake in Manipal Hospitals, thereby obtaining a majority stake of 59 per cent.

This deal represents the biggest private equity transaction in India's healthcare industry.

The multi-disciplinary team responsible for executing the transaction included Vikram Raghani as the lead partner, Rishabh G. and Abhijeet Sonawane as partners and Akshath Mithal, Althea Pereira, and Hemanth Joseph as senior associates. Additionally, Rishabh Sheth, Vaishnavi Vyas, Piyush Milani, and Nishi Shah served as associates and assistant company secretary, respectively.

The team involved in the transaction also consisted of partner and Head of the Practice for Competition Law at CCI Vaibhav Choukse, Ela Bali, a partner, and Nripi Jolly and Aditi Khanna, who both worked as senior associates. Additionally, Faiz Rehman Siddiqui contributed to the team as an associate.

The regulatory aspects of the deal were handled by Bir Bahadur Sachar, who acted as the partner, and Yashvi Singh, who worked as the principal associate.

The team responsible for the real estate aspect of the transaction included Malini Raju, who served as the partner, Vidhyadhare S, who worked as counsel, and Lavanya HM, Deepika Nagaraja, Nagashree Prasad, and Prannathi Ajith Kumar, who all served as associates.

The JSA Disputes Team involved in the transaction included Varghese Thomas and Pratik Pawar as partners, Yohaann Limathwalla as principal associate, and Siddhesh Pradhan and Maitreyi Kannur as senior associates. Additionally, the Data Privacy Team was represented by Unnati Deva and Shivani Bhatnagar as associates.

Trilegal, another India-based law firm, provided legal counsel to Manipal Hospitals and its promoters in Temasek's acquisition of a significant stake in Manipal Health Enterprises Private Ltd (Manipal Hospitals). The transaction also involved a partial exit to TPG and a complete exit to National Investment and Infrastructure Fund - II.

Corporate partners Harsh Maggon and Ankit Kejriwal led the Trilegal team in charge of the transaction. Nisha Kaur Uberoi, who is a partner and National Head of Competition Law practice, and Rudresh Singh, who specialises in Competition Law, provided legal counsel on the anti-trust aspects of the deal.