Wragge & Co’s corporate experts have advised new client, NYSE-listed Cambrex Corporation, on acquiring a 51% stake in Indian pharmaceutical company Zenara for $20 million. The US-based life sciences company will acquire the remaining stake in early 2016 at a value to be determined.
Corporate director Richard Goold led the deal, which represents Cambrex’s first entrance into the Indian pharmaceutical finished dosage form market. The acquisition positions the company as one of the leading global manufacturer’s of nicotine replacement therapy products.
Richard Goold said: “This cross-border deal was highly complex, involving international tax and IP advice. Our vast experience of mid-market M&As, life sciences expertise and commercially-sound advice ensured we delivered the right result.”
Cambrex general counsel Michael Zachara added: “This is a significant transaction which provides an exciting development and manufacturing platform for Cambrex in the growing Indian and other high-growth emerging pharmaceutical markets. Richard and the Wragge & Co team were integral in making it happen – providing first-rate legal support throughout.”
The cross-firm team also included corporate lawyers Nigel Collins, Hannah Salmon and Nick Jones, tax partner Kevin Lowe and IP partner Luke Kempton. Head of transaction services, Graham Spalding, led the due diligence. The Wragge & Co team worked closely with Michael Zachara and chief financial officer, Greg Sargen. Matthew Arnold & Baldwin LLP advised Zenara.
Wragge & Co’s 70-lawyer Corporate group specialises in mergers and acquisitions, private equity, IPOs, joint ventures, public takeovers, share schemes, complex corporate structuring, funds and tax.
Experience includes advising Documetric Limited on its successful £30.6 million reverse takeover of AIM-listed Intelligent Environments Group plc. The firm also advised Lloyds TSB Development Capital (LDC) on the acquisition of the Mountain Warehouse group – one of the UK’s largest retailers of outdoor clothing and equipment. LDC acquired a significant minority holding in the group in a transaction valuing the business at more than £50 million.
