The firm is representing Kohlberg Kravis Roberts & Co. in its acquisition of Capsugel, a division of Pfizer Inc., for $2.375 billion in cash. The transaction was announced on April 4, 2011.
The Simpson Thacher team working on this deal includes: Nicholas Ferrer and Vanessa L. Clark (M&A); James Cross and Brian Korchin (Credit); Richard Fenyes (Capital Markets); Nancy Mehlman and Sean Austin (Tax); Alvin Brown and David Schneider (Executive Compensation and Employee Benefits); Lori Lesser, Marcela Robledo, Brian Halter and Michael Hasper (Intellectual Property); Adeeb Fadil and Noreen Lavan (Environmental); Joe Tringali, David Vann, Michael Naughton, Ellen Frye and William Kearney (Antitrust); Joyce Xu, Alina Casner and Matt Rogers (Derivatives); and Shaolin Luo advised on corporate matters in Beijing. Paralegal Laura Maio provided invaluable assistance.
The transaction is subject to customary closing conditions, including regulatory approval in certain jurisdictions, such as the U.S. and the European Union, among others. The transaction is expected to close in the third quarter of 2011, assuming the receipt of the required regulatory clearances and satisfaction of other closing conditions.
Capsugel is the world’s leading provider of hard capsules and an innovator in drug-delivery systems for the pharmaceutical, over-the-counter and health and nutrition end-markets. Capsugel offers a comprehensive array of products and services, from hard gelatin and vegetarian capsules, to innovative research and development equipment and liquid formulations as part of its Licaps® Drug Delivery System. Capsugel manufactured more than 180 billion hard capsules in 2010 and generated approximately $750 million in revenue.