Platinum Partners has continued to grow steadily over the past year, adding to its partnership and its junior headcount, as well as acting for some global household names. Particularly fertile industry sectors for the firm in 2013 have been pharmaceuticals and communications, and sources were quick to praise the “high quality service” it provides.
Mumbai’s Gautam Bhat is internationally recognised for his work in the real estate sector, described as “wonderful to deal with” by respondents to our survey. The firm also boasts Nihar Mody, an M&A specialist with an international pedigree, having previously worked at Freshfields.
In 2013 Platinum Partners’ pharma and chemicals lawyers have acted for Actis in relation to acquisition of a majority stake in Symbiotec Pharmalab for $48 million, Mylan Inc in relation to the proposed acquisition of Strides Arcolab’s multi-jurisdictional speciality pharmaceuticals and generic injectable business, and Solvay in its open offer under the SEBI Takeover Regulations as part of its acquisition of Rhodia Specialty Chemicals India, pursuant to the global acquisition of the Rhodia group.
Elsewhere the firm acted for British Gas Group in the sale of its entire promoter shareholding of 65.12 per cent in Gujarat Gas Company to a wholly owned subsidiary of Gujarat State Petroleum Corporation for approximately $448 million. The firm is also advising the Diageo Group on its acquisition of a controlling stake in United Spirits (valued at £2.4 billion), a deal that comprises the acquisition of existing shares from United Breweries, a preferential allotment of new shares by United Spirits, and a tender offer to its public shareholders.