Slaughter and May is advising GlaxoSmithKline - completion of major three-part inter-conditional transaction with Novartis

Slaughter and May is advising GlaxoSmithKline (GSK) on its major three-part inter-conditional transaction with Novartis which completed on 2 March 2015. Under the transaction:

  • GSK acquired Novartis's global Vaccines business (excluding influenza vaccines) for an initial cash consideration of US$5.25 billion
  • GSK has created a new world-leading Consumer Healthcare joint venture with Novartis in which GSK will have majority control and an equity interest of 63.5%
  • GSK divested its Oncology business for an aggregate cash consideration of US$16 billion

GSK will use £4 billion of the net proceeds from the transaction to fund a capital return to shareholders.

Slaughter and May is supporting GSK's internal legal team, which is led by Dan Troy, Chip Cale and Elizabeth Planell.

Simon Nicholls Partner
Richard Smith Partner
Nick Pacheco Partner
Claire Jackson Partner
Richard Hilton Associate
Chris McGaffin Partner
Warwick Brennand Associate
Jiayi Li Associate
Dominic Brown Associate
Max Schofield Associate
Stephanie Pun Associate
Laura Houston Associate
Richard McDonnell Associate
Emma Game Senior Counsel
Lucy Duane Associate
David Wilks Associate
Jack Dickie Associate
Guy O'Keefe Partner