Khaitan & Co advises Everstone Group and key promoters of Sahyadri Hospitals Group on their agreement to sell a significant majority stake in Sahyadri Hospitals Group to Ontario Teachers’ Pension Plan Board

Hospitals and Health Care Facilities

16-Aug-2022

Sahyadri Hospitals Private Limited

Khaitan & Co advised Everstone Group and key promoters of Sahyadri Hospitals Group on their agreement to sell a significant majority stake in Sahyadri Hospitals Group to Ontario Teachers’ Pension Plan Board. Sahyadri Hospitals Group is the largest private hospital chain in the state of Maharashtra.

Everstone Group along with a group of key management and founders will retain minority stakes in the company. Closing of the transaction is subject to customary closing conditions.

The deal value is unavailable

The core team consisted of Bharat Anand (Partner), Aditya Patni (Partner), Kevin Peter (Principal Associate), Srikant C.V. (Principal Associate), Tanima Tandon (Principal Associate) with assistance from the following:
Employment law related aspects for the vendor due diligence: Anshul Prakash (Partner), Abhinav Rastogi (Counsel), Deeksha Malik (Senior Associate)
Real estate related aspects of the transaction: Harsh Parikh (Partner), Amit Wadhwani (Counsel), Shivom Sharma (Associate)
Debt-financing related aspects: Rolwine Alva (Partner), Savni Tewari (Principal Associate)
Vendor due diligence: Bharat Anand (Partner), Aditya Patni (Partner), Kevin Peter (Principal Associate), Nikita Bhuwania (Principal Associate), Tushar Bakshi (Associate)

Khaitan & Co advised Everstone Group and key promoters of Sahyadri Hospitals Group on their agreement to sell a significant majority stake in Sahyadri Hospitals Group to Ontario Teachers’ Pension Plan Board. Sahyadri Hospitals Group is the largest private hospital chain in the state of Maharashtra.

Rippledot Capital Advisers Pte Ltd, Price Waterhouse & Co LLP, Ernst & Young LLP

Ontario Teachers’ Pension Plan Board was advised by Latham & Watkins and Trilegal. The Latham team was led by Singapore partner Sidharth Bhasin, with associates Bing Xi Sia and Heidi Lui. Advice was also provided on finance matters by Singapore partner Timothy Hia, with associates Tian Lin and Yun Cao. The Trilegal team was led by partners, Harsh Pais, Sanjam Arora with counsel Vishal Sagar.

https://www.livemint.com/companies/news/ontario-teachers-to-pick-up-stake-in-sahyadri-hospitals-from-everstone-11660711414412.html

https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/canadian-fund-ontario-teachers-pension-plan-board-to-acquire-sahyadri-hospitals/articleshow/93609001.cms

https://www.msn.com/en-in/finance/topstories/canadas-otppb-to-acquire-controlling-stake-from-everstone-in-sahyadri-hospitals/ar-AA10Kdcy

https://www.pehub.com/ontario-teachers-acquires-majority-of-indias-sahyadri-hospitals-group/

https://www.laingbuissonnews.com/healthcare-markets-international-content/india-ontario-teachers-acquires-majority-stake-in-sahyadri-from-everstone/