Apollo Global Management’s Acquisition of Covis Pharma

Dechert and Homburger have advised Cerberus Capital Management, L.P. and Covis Pharma BV in the transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Apollo. McDermott Will & Emery has advised the management team of Covis Pharma.

Funds managed by affiliates of Apollo Global Management, Inc. (together with its consolidated subsidiaries, “Apollo”) (NYSE: APO) have agreed to acquire Covis Pharma BV, a global specialty pharmaceutical company, from an affiliate of Cerberus Capital Management, L.P., a global leader in alternative investing.

Terms of the transaction were not disclosed. Subject to antitrust approval, the transaction is expected to close by the end of the 1st quarter of 2020.

Apollo is a leading global alternative investment manager. Apollo had assets under management of approximately $331 billion as of December 31, 2019 in credit, private equity and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources.

Covis Pharma is headquartered in Baarn, Netherlands with branch operations in Zug, Switzerland. Covis is a global specialty pharmaceutical company that markets therapeutic solutions for patients with life-threatening conditions and chronic illnesses.

Founded in 1992, Cerberus is a global leader in alternative investing with over $42 billion in assets across complementary credit, private equity, and real estate strategies.

Rothschild & Co served as the financial advisor to Covis and Cerberus on this transaction. Barclays PLC served as the financial advisor to Apollo on this transaction.

The cross-border Dechert team was led by Partner Mark Thierfelder (Picture; New York), Partner Gareth Clark (New York), Partner Christopher Field (London), Associate Mark Evans (London), and Associate Barrett Schitka (New York).

Homburger acted as Swiss counsel to Cerberus and Covis Pharma with a team led by partner Dieter Gericke (Corporate | M&A) and comprised partner Gregor Bühler (IP | IT) as well as associates Daniel Häusermann and Christophe Chatelanat (both Corporate | M&A), Carola Winzeler (IP | IT), Nina Rabaeus (Employment and Executive Compensation), David Borer (Banking and Finance) and Céline Martin (Tax).

McDermott’s cross-border team was led by Tom Whelan and included Daniel Ross, and tax advice from Andrew Liazos in Boston, Kevin Feeley in Chicago, and James Ross in London, and securities advice from Ze’-ev Eiger in New York.

Involved fees earner: Gareth Clark – Dechert; Mark Evans – Dechert; Christopher Field – Dechert; Barrett Schitka – Dechert; Mark Thierfelder – Dechert; David Borer – Homburger; Gregor Bühler – Homburger; Christophe Chatelanat – Homburger; Dieter Gericke – Homburger; Daniel Häusermann – Homburger; Céline Martin – Homburger; Nina Rabaeus – Homburger; Carola Winzeler – Homburger; Ze’-ev Eiger – McDermott Will & Emery; Kevin Feeley – McDermott Will & Emery; Andrew Liazos – McDermott Will & Emery; James Ross – McDermott Will & Emery; Daniel Ross – McDermott Will & Emery; Tom Whelan – McDermott Will & Emery;

Law Firms: Dechert; Homburger; McDermott Will & Emery;

Clients: Cerberus Capital Management, L.P.; Covis Pharma; Covis Pharma – Management Team;

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Author: Ambrogio Visconti