DiaSorin S.p.A.’s USD 1.6 Billion Financing Package For The Acquisition Of Luminex Corporation

Slaughter and May, Cravath Swaine & Moore LLP and Pedersoli Studio Legale advised DiaSorin S.p.A. on the deal.

The deal involved DiaSorin S.p.A.’s USD 1.6bn bank financing package for its recently announced acquisition of Luminex Corporation. The acquisition will, among other things, broaden DiaSorin’s positioning in the molecular diagnostics space and give DiaSorin access to Luminex’s molecular diagnostics multiplexing technology. The transaction is expected to close in the third quarter of 2021 and is subject to Luminex shareholder approval, satisfaction of antitrust and CFIUS regulatory requirements and other customary closing conditions.

The financing package comprises a USD 1.1bn term loan facility maturing in 2026 and a USD 500m bridge loan facility maturing in 2022 with an option (exercisable at DiaSorin’s discretion) to extend the maturity of the bridge loan facility by an additional 12 months. The facilities were arranged by the Bookrunners and Mandated Lead Arrangers Citibank, N.A., London Branch, BNP Paribas, Italian Branch, Mediobanca – Banca di Credito Finanziario S.p.A. and UniCredit S.p.A.

Slaughter and May worked as part of an integrated team with DiaSorin’s US legal advisors, Cravath Swaine & Moore LLP and, Italian legal advisors, Pedersoli Studio Legale.

Slaughter and May’s team included Matthew Tobin (Picture), Partner, Christopher McCabe, Associate and Conor Gallagher-Chu, Trainee.

The Cravath team advising DiaSorin was led by partners Damien R. Zoubek and Robert I. Townsend III and includes associates Sanjay Murti, Jason L. Zhang and Dana Leshem on M&A matters; partner Stephen M. Kessing and associate D. Ana Choi on financing matters; partner Lauren Angelilli and associate Peter W. Rogers on tax matters; partner Margaret T. Segall and associate Kolja I. Ortmann on regulatory matters; partner David J. Kappos and practice area attorney Anthony N. Magistrale on intellectual property matters; partner John D. Buretta and practice area attorney Megan Y. Lew on compliance matters; partner Matthew J. Bobby and associates Sally Ye and David Crampton on executive compensation and benefits matters; partner Matthew Morreale on environmental matters and senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters. Sonia Katharani-Khan also worked on tax matters; Malikah I. Williams also worked on regulatory matters and Pedraam Mirzanian also worked on intellectual property matters.

Involved fees earner: Lauren Angelilli – Cravath Swaine & Moore; Matthew Bobby – Cravath Swaine & Moore; Brian Budnick – Cravath Swaine & Moore; John Buretta – Cravath Swaine & Moore; Ana Choi – Cravath Swaine & Moore; David Crampton – Cravath Swaine & Moore; Margaret Segall D’Amico – Cravath Swaine & Moore; David Kappos – Cravath Swaine & Moore; Sonia Katharani-Khan – Cravath Swaine & Moore; Stephen Kessing – Cravath Swaine & Moore; Joyce Law – Cravath Swaine & Moore; Dana Leshem – Cravath Swaine & Moore; Megan Lew – Cravath Swaine & Moore; Anthony N. Magistrale – Cravath Swaine & Moore; Matthew Morreale – Cravath Swaine & Moore; Sanjay Murti – Cravath Swaine & Moore; Kolja Ortmann – Cravath Swaine & Moore; Peter Rogers – Cravath Swaine & Moore; Robert Townsend III – Cravath Swaine & Moore; Sally Ye – Cravath Swaine & Moore; Jason Zhang – Cravath Swaine & Moore; Damien Zoubek – Cravath Swaine & Moore; Christopher McCabe – Slaughter and May; Matthew Tobin – Slaughter and May;

Law Firms: Cravath Swaine & Moore; Slaughter and May;

Clients: Diasorin spa;

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Author: Federica Tiefenthaler