A&O Amsterdam lands €11bn pharma deal
Allen & Overy (A&O) has landed a lead role advised US pharmaceuticals group Schering Plough on its €11bn (£7.5bn) acquisition of the medicines business of Dutch chemicals group Akzo Nobel. The A&O team was led by Amsterdam corporate partner Sietze Hepkema alongside banking partner Andrew Thomas and tax partner Olaf van der Donk. US advice was provided by banking partner Thomas Abbondante, capital markets partner Cathleen McLaughlin and senior banking counsel Julian Weldon.Leading Dutch independent De Brauw Blackstone Westbroek advised Akzo Nobel on the deal, with Sullivan & Cromwell advising on US aspects.The deal follows the sale last year by Akzo Nobel of former subsidiary Organon BioSciences, including human and animal medicines and a fledgling vaccines business.The latest deal is the second-largest M&A transaction in Dutch history, following the tie-up between Netherlands-based utility giants Essent and Nuon in a €24bn (£16bn) deal. A&O advised Nuon on the merger, with magic circle rival Freshfields Bruckhaus Deringer acting on behalf of Essent.
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