Triton Investment Management Limited’s £1.2 Billion Recommended Offer for Clinigen Group Plc

In UK Alston & Bird LLP, Ashurst, White & Case, advised on the matter.

Alston & Bird LLP advised StepStone Group with a team including Stuart Harray (Equity Capital Markets), Saloni Joshi (Equity Capital Markets).

Ashurst advised Clinigen Group plc with a team including Steven Vaz (Competition Law), Ruth Buchanan (Employment), Karen Davies (Picture – Equity Capital Markets), Lynn Dunne (Equity Capital Markets), Nicholas Stretch (Executive Compensation), Alexander Cox (Tax M&A and Deal Advisory).

White & Case advised Triton Investment Management Limited with a team including Marc Israel (Competition Law), Colin Harley (Equity Capital Markets), Dominic Ross (Equity Capital Markets), Ingrid York (Equity Capital Markets), Nicholas Greenacre (Executive Compensation), Philip Trillmich (IP&IT).

Clinigen Group Plc received a £1.2 billion recommended offer from Triley Bidco Limited, a newly-incorporated company indirectly owned by funds indirectly or directly managed by Triton Investment Management Limited (“Triton”).

Pursuant to the terms of the offer, Clinigen shareholders will receive 883 pence per share, valuing the issued and to be issued share capital of Clinigen at approximately £1.2 billion.

Clinigen is a global pharmaceutical Services and Products company focused on providing ethical access to medicines. Clinigen’s mission is to deliver the right medicine to the right patient at the right time. The Clinigen Group operates from sites in North America, Europe, Africa and the Asia Pacific.

Triton is a leading European private equity investment firm with a proven track record and deep expertise in investing in healthcare, including in pharmaceutical and pharmaceutical services companies.

The Ashurst team advising Clinigen was led by Global Chair Karen Davies, assisted by senior corporate associates, Aimee Carroll-Hewitt and Sara Hamzawi, corporate associates Lauren Garrett, Aaron Koh and Ariella Moses and trainee solicitors Michael Utama and Ciaran Rutherfurd. Head of incentives Nicholas Stretch, counsel Rebecca Servian and associate Katharine Foster assisted on the share incentives aspects. Competition partner Steven Vaz also advised with assistance from senior associate Laura Carter and associates Lyudmyla Bashynska and Louisa Northover. Partner Lynn Dunne, associates Jack Allen, Fraser Collingham and Andrew Sims are advising on the scheme of arrangement. Tax partner Alexander Cox and associate Martin Voelker assisted on tax aspects, with employment Ruth Buchanan and associate Claire Bradbury also advising.

The White & Case team advising on the transaction is being led by partners Dominic Ross, Colin Harley and Lucy Bullock (all London) and includes partners Marc Israel, Nicholas Greenacre, Ingrid York and Philip Trillmich (all London) and Katarzyna Czapracka (Brussels, Warsaw), with support from associates Ben von Maur, Omar Anwar, Oliver Trotman, Josh Crawley, Valeriya Anopchenko, Joao Lacerda, Dionne Boahene, Francesca MacSwiney, Zhengping Lu, Phemelo Paledi, Amy Detheridge and Claire Slunecko (all London).

The Alston & Bird team included Saloni Joshi, Stuart Harray, Simon Cahill, Megan Lau, Rob Davidson, Emma Rigby, Ethan Dodd, and Harry York.

Involved fees earner: Simon Cahill – Alston & Bird LLP; Robert Davidson – Alston & Bird LLP; Ethan Dodd – Alston & Bird LLP; Stuart Harray – Alston & Bird LLP; Saloni Joshi – Alston & Bird LLP; Megan Lau – Alston & Bird LLP; Emma Rigby – Alston & Bird LLP; Harry York – Alston & Bird LLP; Ruth Buchanan – Ashurst; Aimee Carroll-Hewitt – Ashurst; Laura Carter – Ashurst; Alexander Cox – Ashurst; Karen Davies – Ashurst; Lynn Dunne – Ashurst; Katharine Foster – Ashurst; Lauren Garrett – Ashurst; Sara Hamzawi – Ashurst; Aaron Koh – Ashurst; Rebecca Servian – Ashurst; Nicholas Stretch – Ashurst; Steven Vaz – Ashurst; Martin Voelker – Ashurst; Omar Anwar – White & Case; Ben von Maur – White & Case; Dionne Boahene – White & Case; Joshua Crawley – White & Case; Katarzyna Czapracka – White & Case; Amy Detheridge – White & Case; Nicholas Greenacre – White & Case; Colin Harley – White & Case; Marc Israel – White & Case; Joao Lacerda – White & Case; Francesca MacSwiney – White & Case; Dominic Ross – White & Case; Claire Slunecko – White & Case; Philip Trillmich – White & Case; Ingrid York – White & Case;

Law Firms: Alston & Bird LLP; Ashurst; White & Case;

Clients: Clinigen Group plc; StepStone Group; Triton Investment Management Limited;

Author: Giulia Di Palma