TT&A, Linklaters advise Lonza on sale of Capsules & Health Ingredients business to Lone Star Funds

Lonza Group AG has signed a definitive agreement for the sale of its Capsules & Health Ingredients (CHI) business to Lone Star Funds for an enterprise value of CHF 2.3 billion ($3 billion).

TT&A advised Lonza on the India-leg of the business transfer. The India leg of the transaction, inter alia, involved a reverse carve out of the employees of Capsugel Healthcare Private Limited not engaged in the target business into an Indian Lonza entity.

The transaction team consisted of Neville Golwalla (Partner) and Nandini Pradhan (Associate).

Linklaters advised Lonza on the overall global transaction.

The international and cross-practice team is led by Marco G. Carbonare (Partner, Corporate/M&A, Frankfurt) and Rupert Cheyne (Partner, Corporate/M&A, London).

The core team also includes Martina Farkas (Partner, Corporate/M&A, Munich), Simon Branigan (Partner, Global Head of Corporate, London), Michael Leicht (Partner, TMT, Frankfurt), Jamie Coomber (Partner, Tax, London), Matthew Devey (Partner, Employment, Frankfurt), Ruprecht Freiherr von Maltzahn (Counsel, Corporate/M&A, Munich), Dominik Wegener (Managing Associate, Corporate/M&A, Hamburg), Mikhail Fufaev (Managing Associate, Corporate/M&A, Düsseldorf) and Carol Sin (Managing Associate, Corporate/M&A, London).

The Linklaters team comprises further lawyers in 18 jurisdictions across the globe, including Partners Greg Palmer (TMT, London), Heiko Schiwek (Corporate/M&A, New York), Christoph Barth (Antitrust & Foreign Investment, Düsseldorf), Jana Hager (Healthcare Regulatory, Berlin) and Paul Joseph (Intellectual Property, London);

Counsels Wendy Suh (Corporate/M&A, New York), Atif Wolfgang Bhatti (Intellectual Property Frankfurt) and Jack Harrison (Tax, London);

Managing Associates Kevin Eisenschmidt (Corporate/M&A, Frankfurt), Luca Rawe (Employment, Düsseldorf), Alexander Krieg (Corporate/M&A, Frankfurt), Cecilia Drepper (Intellectual Property, Frankfurt), Ann-Christin Käser (Antitrust & Foreign Investment, Munich), Alexander Zitzl (Tax, Munich) and Takahisa Watanabe (Corporate/M&A, Tokyo);

Associates Laura Dürr (Employment, Frankfurt), Jonas Baumann (TMT, Frankfurt), Nick Burgold (TMT, Frankfurt), Florian Kopp (Healthcare Regulatory, Berlin), Fabian Wasl (Corporate/M&A, Munich), Deborah Wong (Corporate/M&A, London), Mona Zhang (Corporate/M&A, London), Gautami Govindrajan (Associate, Corporate/M&A, London), Tooru Nishido (Corporate/M&A, London), Malak Toshani (Tax, London), Erasmia Petousi (Antitrust & Foreign Investment, London), Jason Bath (Corporate/M&A, London), Jenny Döllmann (Intellectual Property, Frankfurt), Gallus Vögel (Corporate/M&A, Frankfurt), Volodymyr Yakubovskyy (Foreign Lawyer, Corporate/M&A, Frankfurt), Shaziea Habibi (Corporate/M&A, Brussels), Cecilia Pelosi (Corporate/M&A, Milan), Guglielmo Maria Barbieri (Corporate/M&A, Milan), Tomoya Yamamoto (Finance/Energy & Infrastructure, Tokyo) and Svetlana Eisner (Corporate/M&A, New York) as well as the legal project management team led by Nursel Tevetoglu (Corporate/M&A, Frankfurt).

The Linklaters team is working alongside Lonza’s in-house legal counsels Daniel Blaettler (General Counsel Corporate, Finance & Transactions), Sarah Chevalley (Associate General Counsel), Dr Albert Pereda (Associate General Counsel) and Alexander Auster.

Lonza, headquartered in Basel, Switzerland, is a global leader in contract development and manufacturing (CDMO), committed to supporting the healthcare sector.

Lonza will receive upfront proceeds of CHF 1.7 billion ($2.2 billion) and retain a 40% stake in the CHI business post-closing.

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