Agnafit Bidco’s SEK 69.4 Billion Public Offer For All Shares in Swedish Orphan Biovitrum AB

Roschier and Weil, Gotshal & Manges advised Agnafit Bidco and Advent International on the deal. Vinge advised Investor.

Advent International Corporation and Aurora Investment Pte Ltd, an affiliate of GIC Pte Ltd, through Agnafit Bidco AB (pending name change from Goldcup 28580 AB), have announced a recommended public offer to the shareholders of Swedish Orphan Biovitrum AB (publ) (Sobi) to tender all their shares in Sobi at a price of SEK 235 per share, for a total amount of SEK 69.4 billion.

Biopharmaceutical company Sobi is listed on Nasdaq Stockholm, Large Cap. The board of directors of Sobi unanimously recommends that the shareholders accept the offer. The recommendation is supported by a fairness opinion provided by Danske Bank. The total value of the offer, based on all outstanding shares in Sobi (excluding treasury shares) amounts to approximately SEK 69.4 billion.

Investor Aktiebolag and Fjärde AP-Fonden with approximately 36.45 and 6.96 percent, respectively, i.e. in total approximately 43.41 percent, of the shares and votes in Sobi (excluding treasury shares), have undertaken to accept the offer in respect of all of the shares held by them.

Roschier team included Pontus Enquist (Picture), Tilda Rosengren, Erik Ellenius, Eric Karlsson and Emil Larsson.

Vinge team mainly included public M&A partner Erik Sjöman.

The Weil team was led by Private Equity partner Jonathan Wood, supported by M&A partner Murray Cox and Private Equity partner Max Oppenheimer, and Banking partner Tom Richards and High Yield partner Nitin Konchady. The team included: Private Equity partner Lewis Blakey and associates Martin Weatherston-Wilson, Jamie Macdonagh, Michael Grant, Grace Smith, and Henrietta Wirta; High Yield partner Patrick Bright; Banking associates Patrick Brendon, Conor Campbell, Kai Zhang, Jessica Carty and Abdul Wahaab Din; Antitrust/Competition partner Jenine Hulsmann, Counsel Neil Rigby and Nafees Saeed, and associates Christopher Thomas and Alison Finneran; Technology and IP partner Jeffrey Osterman and associate Kane Wishart; and Patent Litigation partner Elizabeth Weiswasser.

Involved fees earner: Erik Ellenius – Roschier; Pontus Enquist – Roschier; Eric Karlsson – Roschier; Emil Larsson – Roschier; Tilda Rosengren – Roschier; Erik Sjöman – Vinge; Lewis Blakey – Weil, Gotshal & Manges; Patrick Brendon – Weil, Gotshal & Manges; Patrick Bright – Weil, Gotshal & Manges; Conor Campbell – Weil, Gotshal & Manges; Jessica Carty – Weil, Gotshal & Manges; Murray Cox – Weil, Gotshal & Manges; Alison Finneran – Weil, Gotshal & Manges; Michael Grant – Weil, Gotshal & Manges; Jenine Hulsmann – Weil, Gotshal & Manges; Nitin Konchady – Weil, Gotshal & Manges; Jamie Macdonagh – Weil, Gotshal & Manges; Max Oppenheimer – Weil, Gotshal & Manges; Jeffrey Osterman – Weil, Gotshal & Manges; Tom Richards – Weil, Gotshal & Manges; Neil Rigby – Weil, Gotshal & Manges; Nafees Saeed – Weil, Gotshal & Manges; Grace Smith – Weil, Gotshal & Manges; Chris Thomas – Weil, Gotshal & Manges; Martin Weatherston-Wilson – Weil, Gotshal & Manges; Elizabeth Weiswasser – Weil, Gotshal & Manges; Henrietta Wirta – Weil, Gotshal & Manges; Kane Wishart – Weil, Gotshal & Manges; Jonathan Wood – Weil, Gotshal & Manges; Kai Zhang – Weil, Gotshal & Manges;

Law Firms: Roschier; Vinge; Weil, Gotshal & Manges;

Clients: Advent International; Agnafit; Investor AB;

Author: Federica Tiefenthaler