CMS Carey & Allende seals pharmaceutical buy

Chile’s CMS Carey & Allende has helped the holding company of Mexican pharmaceutical group Laboratorios Sanfer buy a controlling stake in Chilean counterpart Laboratorios Pasteur.

The exact size of the controlling stake bought by holding company Invekra was not disclosed. The deal’s value is confidential.

It is understood that the acquisition will allow Sanfer to grow its Latin American portfolio.

Sanfer is backed by Canadian pension fund Caisse de dépôt et placement du Québec, which invested USD 500M in the Mexican company in return for a 24% stake last year. The investment was part of the fund’s strategy to expand its holdings in Latin America. The deal represents one of Mexico’s largest-ever minority private capital transactions.

Sanfer researches, produces and supplies medicine in Mexico and has a presence in ten Latin American countries including Argentina, Chile and Peru. Chilean counterpart, Pasteur, is among the largest medical groups in Chile and its operations are based in the region of Bíobío, southern Chile.

Counsel to Invekra

In-house counsel – Roberto Frías

CMS Carey & Allende

Partner Jorge Allende destuet and Ignacio Errazquin (senior associate) and Sofía Haupt (associate) 

Source: Latin Lawyer News