Hengeler Mueller advises GlaxoSmithKline on sale of European Healthcare OTC portfolio
22. March 2012
Hengeler Mueller, working as an integrated team with Slaughter and May and Bonelli Erede Pappalardo, advised GlaxoSmithKline (GSK) on the divestment of a European portfolio of Healthcare OTC products to Omega Pharma N.V. The brands being divested include Solpadeine, Zantac, Nytol, Beconase, Lactacyd and Abtei, the latter being particularly well-known in the German market. The portfolio generated sales of approximately EUR 223 m in 2011. The consideration payable in cash is GBP 391 m (EUR 470 m). The divestment is subject to regulatory approvals and is expected to complete in Q2 2012.
The Hengeler Mueller team included partners Dirk Uwer (Health Care/Life Sciences, Düsseldorf), Klaus-Dieter Stephan (Frankfurt), Christian Möller (Düsseldorf) (both Corporate/M&A) and Hans-Joachim Liebers (Employment, Frankfurt) as well as associates Susanne Koch (Health Care/Life Sciences, Düsseldorf), Nikolaus Hofstetter (London), Carsten Lammers (Düsseldorf) (both Corporate/M&A) and Hendrik Bockenheimer (Employment, Frankfurt).
The Slaughter and May team consisted of partners Richard Smith (Corporate/Commercial), Guy O’Keefe (Financing), Jeanette Zaman (Tax), Roland Doughty (Employment), Bertrand Louveaux (Competition), Cathy Connolly (IP/IT) and Edward Keeble (Commercial Real Estate/Environment) as well as associates Georgie Fast, Alex Dunn, Marina Ehrlich, Timothy Follett, Philippa Dos Santos, Duncan Blaikie, Oliver Storey, James Hume, Joanna Morgan, Lisa Wright, David Seymour and Samantha Brady. Bonelli Erede Pappalardo was represented by associates Livia Cocca, Elena Busson and Francesca Di Carpegna Brivio.