The London and Hong Kong offices of Debevoise & Plimpton LLP have advised AIF Capital Limited in the sale of its stake in Famy Care Limited to Mylan Laboratories Limited.

Under the terms of the agreement, Mylan will pay $750 million in cash to the existing shareholders, plus additional contingent payments of up to $50 million, to acquire certain female reproductive health care businesses from Famy Care.

The deal is subject to regulatory approvals and customary closing conditions.

Famy Care, headquartered in Mumbai, India, offers a comprehensive range of women's health products including oral and injectable contraceptives, intra-uterine devices (IUDs), tubal rings and hormone-replacement therapy products. It is the world's largest producer of generic OCPs, with four high quality manufacturing facilities in India, two of which have been approved by the U.S. Food and Drug Administration (FDA) and the European Union.

Mylan is a global pharmaceutical company which provides 7 billion people around the world access to high quality medicine. It offers a growing portfolio of more than 1,300 generic pharmaceuticals and several brand medications.

AIF Capital Limited is one of Asia's long-standing independent private equity firms focused on mid-market growth opportunities. Since its inception in 1994, AIF has received investor commitments in excess of $2.0 billion and provided capital for expansion and buy-outs through 43 investments in ten Asian countries. AIF Capital initially acquired its stake in Famy Care in 2010.

The Debevoise team advising AIF Capital is led by London based partner Geoffrey P. Burgess and Hong Kong based associate Parveet Singh Gandoak, assisted by London based associate Shashwat Patel.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. The firm’s commercially savvy lawyers regularly lead strategic transactions and complex disputes for world-class clients.