On September 29, 2020, Siegfried Holding AG (SWX: SFZN) announced that it has entered into a purchase agreement with Novartis AG (SWX: NOVN) regarding the acquisition of the pharmaceutical manufacturing sites in El Masnou and Barberà des Vallès (both Barcelona province, Spain). The parties did not disclose the purchase price.
As part of the transaction, Novartis and Siegfried have entered into various agreements regarding their cooperation during the carve-out and integration phase and providing for multi-year purchase commitments for the manufacturing and supply of relevant Novartis products. Subject to customary closing conditions and the necessary regulatory approvals, the transaction is expected to close at the end of 2020.
Homburger has acted as Swiss counsel to Siegfried in this transaction. The Homburger team was led by associate Marc Hanslin (Corporate | M&A) and included associates Jeremy Reichlin (Data Protection | Privacy) and Kirsten Schmidt (IP | IT and Data Protection | Privacy).