DEAL DETAILS
|
Olympus Corporation | Divestment of Science Solutions Business in India |
|
NO |
HEADINGS |
DETAILS |
| 1. |
Sector |
Medical Equipment |
| 2. |
Announcement Date |
29-Aug-2022 |
| 3. |
Completion Date |
|
| 4. |
Name of Client |
Olympus Corporation |
| 5. |
Transferor Details |
Olympus Medical Systems India Private Limited | India |
| 6. |
Transferee Details |
Evident Scientific Private Limited | India |
| 7. |
Deal Description |
Advised Olympus Corporation in relation to sale of Olympus Corporation (“Olympus”) wholly owned subsidiary EVIDENT Co., Ltd. (“Evident”) to Bain Capital Private Equity, LP (“Bain Capital”) for ¥ 427.6 billion (USD 3.1 billion). As per the definitive agreement, shares of Evident will be transferred to Bain Capital on 4 January 2023, subject to regulatory approvals and closing conditions (“Transaction”). Evident conducts scientific solutions business in the fields of life science and industrial applications which involves development, manufacturing, sales and provision of solutions for biological microscopes, industrial microscopes, industrial videoscopes and fiberscopes, non-destructive testing equipment, and X-ray analyzers. The scientific solutions business of Olympus was transferred to Evident in April 2022. |
| 8. |
Total Consideration |
JPY 427.6 billion (USD 3.1 billion) |
| 9. |
Team Members |
The India leg of the transaction was led by Zakir Merchant (Partner) with the core team involving Divakar Gupta (Senior Associate), Gaurav K Sharma (Associate) with assistance from the following: Employment Law aspects: Anshul Prakash (Partner) and Abhisek Choudhury (Senior Associate)
|
| 10. |
Role of Firm |
Khaitan & Co assisted Olympus Corporation |
| 11. |
Other legal advisors if any with names of Lead Lawyers |
TMI Associates, Japan |
| 12. |
Press Coverage |
