Hengeler Mueller advises GlaxoSmithKline on its major multiple-part interconditional transaction with Novartis

23. April 2014

Hengeler Mueller is advising GlaxoSmithKline (GSK) on German corporate and real estate aspects as well as German employment and pensions aspects on two parts of the major three-part interrelated transaction with Novartis announced on 22 April 2014. The two parts of the transaction include GSK and Novartis combining their respective Consumer Healthcare businesses to form a new world-leading Consumer Healthcare business and GSK acquiring Novartis' global Vaccines business (excluding influenza vaccines) for an initial cash consideration of USD 5.25 bn with subsequent potential milestone payments of up to USD 1.8 bn and ongoing royalties.

Slaughter and May is supporting GSK's internal legal team as lead adviser, with Hengeler Mueller advising GSK as part of an integrated team of lawyers from its international “Best Friends” network and from other leading law firms.

The Hengeler Mueller team was led by partners Christian Hoefs (Employment/Pensions) and Karsten Schmidt-Hern (M&A/Real Estate) and included associates Eckbert Müller (Employment/Pensions), Bianca Vogt, Jesko Kamischke, Matthias Löhle, Malte Wundenberg and Johannes Honzen (M&A/Real Estate).