Advent’s €1.9 Billion Acquisition of Zentiva

Kirkland & Ellis International LLP is advising Advent International on the financing aspects of its €1.919 billion acquisition of leading European generics business Zentiva from global biopharmaceutical company Sanofi.

Advent International and Sanofi have entered into exclusive negotiations under which Advent would acquire Zentiva, Sanofi’s European generics business for €1,919 million. Advent’s offer is firm, binding and fully financed.

Advent is a global investor, with over 25 years experience of investing in the healthcare sector. It has extensive experience of executing corporate carve-outs and will work collaboratively with Sanofito form a new independent operation. Advent will support the Zentiva management team to invest in the company’s operations, production facilities and R&D pipeline.

The transaction is expected to close by the end of 2018, subject to finalization of definitive agreements, completion of the appropriate social processes and approval of relevant regulatory authorities. This process will be conducted in full respect of social dialogue with Sanofi employee representatives.

The Kirkland team, in London, is being led by debt finance partners Christopher Shield (Picture) and Hugh O’Sullivan and capital markets partner Matthew Merkle.

 

Involved fees earner: Christopher Shield – Kirkland & Ellis; Matthew Merkle – Kirkland & Ellis; Hugh O’Sullivan – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Advent International;