February 19, 2021
Latham & Watkins advised on the
financing of EQT’s acquisition, through Roar BidCo, of all tendered shares and
convertible bonds in Recipharm, one of the five largest pharmaceutical contract
development and manufacturing organizations in the world, with global
production facilities.
The acquisition was made through a public
offer of SEK232 in cash per share to the shareholders of Recipharm, and
SEK1,504,295 in cash per convertible bond, totaling ~US$3 billion (SEK24.93
billion).
Roar BidCo's shareholding in Recipharm now
corresponds to approximately 95.1 per cent of the share capital and
approximately 98.3 per cent of the voting rights, as well as 100 per cent of
the issued convertible bonds.
Financing for the offer was led by London
partners Dominic Newcomb and Jennifer Engelhardt, with counsel Will Lam and
associates Melanie Emmen and Medha Vikram. Advice on convertible bonds was
provided by London capital markets partner Manoj Tulsiani and associate Amina
Tsatiashvili.