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CMS Bureau Francis Lefebvre adviser to Otsuka Pharmaceuticals in the acquisition of Nutrition & Santé

09/01/2009

The Japanese Group Otsuka Pharmaceuticals, purchases the company Nutrition & Santé, controlled by Abénex Capital and L Capital investment funds.

This deal, subject to the approval of the European Merger Control Authority, is supposed to be carried out during the winter term 2009.

Established in 1973, the Nutrition & Santé Company today is the European leader in the field of dietetic foods. It employs 950 people, has 5 production sites in France and should be able to display a turnover of €280 million in 2008. Its main brands are: Gerblé and Céréal (health and functional foods), Gerlinéa, Pesoforma, Milical and Bimanan (sliming nutrition for grocery stores and for pharmacies, Isostar (sports nutrition), Soy and Céréal Bio (vegetarian and organic foods). In 2006, Nutrition & Santé has been transferred to Abénex Capital and L Capital by the Novartis pharmaceutical group.

Otsuka Pharmaceuticals is the 3rd Japanese pharmaceutical laboratory. It has 33000 employees throughout the world and announces a 2008 turnover of US$ 9.3bn. The Group has 77 factories and 35 Research and Development Centres worldwide. The Nutraceuticals Division (which represents 30% of the Group turnover) has strong positions in Asia with the brands ‘Pocari Sweat (health beverages) and CalorieMate (snack). This division is present in the USA with the company Pharmavite, whose brand ‘NatureMade’ is a leader on the market of food supplements. It also has been launching for 2006 the brand ‘Soyjoy’ in Japan, China and USA.

As for this deal, Otsuka was advised on legal and fiscal aspects by CMS Bureau Francis Lefebvre, also teamed up with Italian, Swiss, Belgian and Spanish CMS member firms for International law aspects.

CMS Bureau Francis Lefebvre team made up of:

  • M&A: Jacques Isnard (partner), Jean-Robert Bousquet, Alexandra Rohmert, Sahar Saboori, Caroline Vadet, Marc Flamand
  • Tax: Edouard Milhac (partner), Tiaré Muller
  • Employment law: Nicolas Callies (partner), Florence du Gardier, Fanny Gout
  • Competition: Olivier Benoit (partner), Virginie Coursière, Maïa Spy
  • Intellectual Property: Alexandra Le Corroncq, Clarence Pinot de Villechenon, Prudence Cadio
  • Contracts, Real Estate, Finance, Insurance and Environment: Jean de la Hosseraye (partner), Gérard Kling (partner), Stéphanie de Giovanni, Astrid Chatiliez, Jérôme Sutour, Julia Pelpel-Moynot, Jean-Bastien Lagrange.

International Team:

  • CMS Adonnino Ascoli & Cavasola Scamoni (Italy): Pietro Cavasola and Matteo Ciminelli
  • CMS von Erlach Henrici (Switzerland): Oliver Blum and Germaine Büchi
  • CMS DeBacker (Belgium): Cédric Guyot and Arnaud Van Oekel
  • CMS Albinana & Suarez de Lezo (Spain): Carlos Pena Boada, Gracia Sainz Munoz, Begona Redon Revuelta and Javier Torre de Silva Lopez de Letona.

Financial Advisor to Otsuka: Lazard with Alexandra Soto, Matthieu Bucaille, Alexandre Benais, Jean-Philippe Bescond.

Adviser to Otsuka as for accounting and financial due diligence: Deloitte with Matt Jiggins (partner), Alberto Sillero, Philippe Notargiacomo.

Transferors were advised on legal and tax aspects by Frieh & Partners Solicitors with Michel Frieh and Damien Boulanger. Their financial advisor was Wagram Corporate Finance with Paul Le Clerc and Bruce Bolleau.

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CMS Bureau Francis Lefebvre adviser to Otsuka Pharmaceuticals in the acquisition of Nutrition & Santé
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