CMS has advised Advent International, one of the largest and most experienced global private equity investors, on the CEE and Swiss aspects of its EUR 1.9bn acquisition of Zentiva, Sanofi’s European generic pharmaceuticals business.
Advent is a global investor, with over 25 years’ experience investing in the healthcare sector. It has extensive experience in executing corporate carve-outs and will support Zentiva as it enters a new phase of its history as an independent Business.Headquartered in Prague, Zentiva has operations throughout Europe.
CMS worked across the Czech Republic, Poland, Hungary, Slovakia, Romania and Switzerland, with coordination out of the UK and Bulgaria. Over the seven months it took for the deal to complete, over 50 lawyers worked across eight jurisdictions, often within very tight timescales.
CMS's pharmaceutical sector knowledge and ability to operate seamlessly cross-border were key to the success of the transaction, from the initial due diligence, to the various local restructurings required to effect the pre-completion carve-out and assistance on the financing aspects.