Nordic Capital has agreed to acquire Advanz Pharma Corp, a specialty pharmaceutical company focused on complex medicines in Europe. According to terms of the agreement, each Advanz Pharma shareholder will receive $17.26 in cash. The value of the deal is about $846 million.
LONDON, Jan. 27, 2021 /PRNewswire/ – ADVANZ PHARMA Corp. Limited (“ADVANZ PHARMA” or “the Company”), a specialty pharmaceutical company with a strategic focus on complex medicines in Europe, today announced that its board of directors has reached an agreement on the terms of a cash offer, to be made by a subsidiary (“Bidco”) of Nordic Capital, pursuant to which Nordic Capital will acquire the entire issued and to-be-issued limited voting share capital of ADVANZ PHARMA (the “Acquisition”).
“This offer highlights the value that our employees around the world have collectively contributed towards building ADVANZ PHARMA into the strong and diverse company it is today,” said Graeme Duncan, Chief Executive Officer of ADVANZ PHARMA. “In addition, this Acquisition will significantly help the business through both the capital support, and Nordic Capital’s deep sector expertise. I am very much looking forward to working with Nordic Capital to deliver our growth targets.”
Under the terms of the proposed Acquisition, each ADVANZ PHARMA shareholder will be entitled to receive $17.26 in cash (the “Cash Offer”) in respect of each ADVANZ PHARMA share. The Acquisition values the entire issued and to-be-issued limited voting share capital of ADVANZ PHARMA at approximately $846 million.
As an alternative to the Cash Offer, eligible ADVANZ PHARMA shareholders may elect for the alternative offer pursuant to which they would receive unlisted shares in the BidCo structure for each ADVANZ PHARMA share, which will be issued upon, or shortly following, the agreement becoming effective.
For further details about the proposed Acquisition, including closing requirements and additional considerations, please visit the Investor Relations section of the Company’s website at:
About Nordic Capital
Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses. Established over 30 years ago, Nordic Capital has invested in excess of €16 billion and its most recent fund (Nordic Capital Fund X) raised €6.1 billion of investor commitments in 2020.
About ADVANZ PHARMA
ADVANZ PHARMA is a specialty pharmaceutical company with a strategic focus on complex medicines in Europe. With an agile and experienced team, including direct sales, marketing and medical capability across many of Europe’s major markets, the Company supplies, innovates and enhances the critical medicines patients depend on, ensuring continued patient access and improving health outcomes.
ADVANZ PHARMA has expertise in the anti-Infectives and endocrinology therapy areas, along with strong relationships with hospital decision makers, making it an attractive partner when commercialising complex medicines in Europe.
ADVANZ PHARMA has an operational headquarters in London, an operations centre of excellence in Mumbai, commercial affiliates in North America, Europe, and Australia, and an established global network of commercial partners throughout the rest of the world.