Overview
McDermott Will & Emery has advised the management team of Covis Pharma, on the re-investment into the new buying group, following the sale of Covis Pharma by Cerberus Capital Management (Cerberus) to Apollo Global Management, Inc, (Apollo). Subject to antitrust approval, the transaction is expected to close by the end of the 1st quarter of 2020.
Covis Pharma is headquartered in Baarn, Netherlands with branch operations in Zug, Switzerland. Covis is a global specialty pharmaceutical company that markets therapeutic solutions for patients with life-threatening conditions and chronic illnesses.
Apollo is a leading global alternative investment manager and had assets under management of approximately $331 billion as of December 31, 2019 in credit, private equity and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources.
Founded in 1992, Cerberus is a global leader in alternative investing with over $42 billion in assets across complementary credit, private equity, and real estate strategies.
McDermott’s cross-border team was led by Tom Whelan and included Daniel Ross, and tax advice from Andrew Liazos in Boston, Kevin Feeley in Chicago, and James Ross in London, and securities advice from Ze’-ev Eiger in New York.
Paul, Weiss, Rifkind, Wharton & Garrison LLP represented Apollo.
Dechert advised Cerberus Capital Management, L.P. and Covis Pharma.
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