Indian firm Amarchand advises Piramal Healthcare on $523m buy-back scheme

Piramal Healthcare (Company) has opted for buy-back of shares as it is a better tax efficient method of maximizing value to shareholders. The Board of Directors has approved buy-back for purchase by the Company of a maximum of 41.8 million equity shares, representing 20 percent of the total number of shares, from the shareholders of the Company. The buy-back will entail a cash outflow of up to Rs. 2,500 crore ($523 million). Amarchand Mangaldas advised Piramal Healthcare with a team led by Managing Partner, Cyril Shroff. Speaking on the unique feature of the transaction, Cyril Shroff quoted, “The Piramal Healthcare buyback is the largest buyback in the history of corporate India”.

Indian firm Amarchand advises Piramal Healthcare on $523m buy-back scheme barandbench.com Mon, Nov 29, 2010