Mourant Ozannes advises Cinven on pharmaceutical acquisitions

James Qualtrough | January 4, 2013 | 0 Comments

Leading offshore law firm, Mourant Ozannes, has advised European private equity firm Cinven on the Jersey aspects of its acquisition of two international pharmaceutical businesses, Mercury Pharma and Amdipharm.

Cinven completed its acquisition of Mercury Pharma, the international speciality pharmaceutical company, in September 2012 for an enterprise value of £465 million. The acquisition was supported by debt financing provided by four banks; Jefferies, HSBC, Lloyds Bank and Mizuho. This was followed by its acquisition of Amdipharm, the family-owned international niche pharmaceuticals business, for a total consideration of £367 million. Amdipharm will be merged, over time, with Mercury Pharma. The combined group has an enterprise value in excess of £830 million, with revenues approaching £250 million and a portfolio of more than 200 drugs.

Leading international law firm Clifford Chance advised Cinven on matters of English law. The transaction involved Mourant Ozannes providing corporate, finance and funds legal advice to Cinven.

The finance and corporate team was led by Partner James Hill, assisted by Associate Andrew Salisbury. The funds team was led by funds Partner Joel Hernandez, assisted by Senior Associate Alistair Horn and Associate Jonathon MacFeeters.

Commenting on the deal, James Hill said: “We are delighted to have advised Cinven on another major acquisition, having advised them earlier in 2012 on the CPA Global acquisition. There were a wide variety of aspects to the deal, helping us to showcase our abilities as a leading offshore law firm.”