Recent work | December 14, 2020

Roschier advised EQT IX and Roar BidCo in their SEK 23.6 billion public offer for Recipharm

EQT IX, through Roar BidCo, has made a SEK 23.6 billion (EV of SEK 33.6 billion) public offer for Swedish pharmaceuticals company Recipharm AB. Roschier acted for EQT IX and Roar BidCo.

Roar BidCo has secured ownership of approximately 25.7% of the shares and 74.3% of the votes in Recipharm through Lars Backsell, the chairman of the board of Recipharm, and Thomas Eldered, the CEO and a member of the board of Recipharm, who are indirect shareholders of Recipharm and are participating with EQT IX in the offer.

Recipharm is a leading global CDMO (Contract Development and Manufacturing Organisation) that offers manufacturing and development services to companies in the pharmaceutical industry.

EQT is a leading investment organisation with offices in 16 countries around the world, from Asia to North America. Since its inception, EQT has raised approximately EUR 75 billion in commitments and has numerous investment strategies.

The acceptance period is expected to commence on or about 18 December 2020 and expire on or about 12 February 2021. EQT’s offer is conditional upon (among other things) the offer being accepted to such extent that Roar BidCo becomes the owner of shares representing more than 90% of the total number of outstanding shares in Recipharm (on a fully diluted basis).

Roschier’s advisory team comprised primarily Jens Bengtsson, Ola Sandersson, Christoffer Benninge, Fredrik Rydin, Kristian Hugmark, Leo Lee, Rebecka von Dardel, Charbel Altunkaynak, Arvid Weimers, Richard Katzman, Jacob Giesecke, Elin Larsson, Tobias Wiberg and Hanna Tilus.