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Arnold & Porter Advises Milan's Recordati on its Acquisition of Spanish Pharmaceutical Company

September 17, 2013

LONDON, September 17, 2013 -- Arnold & Porter LLP's client, Milan-based pharmaceutical group Recordati, announced on September 9 its €93m acquisition of Laboratorios Casen Fleet S.L.U., a pharmaceutical company based in Madrid with a global reach. The deal is expected to close in the following weeks and will reinforce the Recordati's presence in Spain, the fifth largest market for pharmaceuticals in Europe, while providing it with a new portfolio of products currently marketed in parts of Europe, Latin America and Asia.

Among other things, Arnold & Porter's legal team in its London office advised the client on the share purchase agreement and English law matters. The firm's London office also acted for Recordati in July 2013 in relation to its acquisition of 90% of the share capital of Tunisian pharmaceutical company Opalia Pharma S.A. for TND 80 million (around €37 million).

"We are delighted to be acting on this second acquisition for Recordati and pleased to continue our growing track record in handling major corporate pharmaceutical transactions out of London, complimenting the office's market-leading life sciences practice in regulatory, competition, product liability and patent litigation work," said partner Anna Buscall.

Besides Ms. Buscall, the Arnold & Porter team working on the transaction included partner Jeremy Willcocks, associate Benjamin Kieft, and tax specialist Elizabeth Middleton. Barcelona-based law firm Faus & Moliner Abogados acted as co-lead counsel.

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