Țuca Zbârcea & Asociații advised on one of the most important deals taking place in the pharma sector since the beginning of the year.
Țuca Zbârcea & Asociații has acted for Interbrands Marketing & Distribution, the largest Romanian company in the distribution and marketing of fast moving consumer goods (FMCG), on its acquisition of Europharm Holding, a local drug distribution company owned by UK drugmaker GlaxoSmithKline. The disposal includes Europharm shares, as well as several additional commercial contracts.
With the signing of the deal on October 13th, a first stage of a lengthy and complicated process had been completed. All the more important, the firm’s lawyers were asked to play a crucial and intensive part in the final round of negotiations to facilitate consensus. The transaction is subject to antitrust clearance from Romania’s Competition Council and is conditioned by the completion of certain commercial terms.
Țuca Zbârcea & Asociații has advised the purchaser with a team in Bucharest led by Andreea Lisievici (Managing Associate) alongside Andreea Oprișan (Senior Associate) and Ruxandra Frangeti (Senior Associate) for the competition and corporate/commercial aspects of the transaction.
“The takeover of Europharm has been quite an exceptional project for so many reasons. First, aside from the business-related complexity, it made us face successive changes in the commercial foundation of the transaction which needed to be translated into efficient contractual clauses. Second, our ability to concentrate on the commercial goal of the contracts and give it precedence over the legal approach has been greatly tested, and Interbrands is the ideal client with which to undertake such a task. We acted as one – the client and the firm’s lawyers”, says Andreea Lisievici.
„The team at Țuca Zbârcea provided Interbrands with professional, sustained and dedicated support during a complex transaction that lasted for over one year to our entire satisfaction. It is not the first time that we worked with this young, fun and dynamic team and in the future we would not hesitate retaining them again”, adds Rand Sherif, CEO Interbrands.
Țuca Zbârcea & Asociații advised throughout the acquisition process, starting with the due diligence phase up to negotiation of transaction documents. The team will continue to act for Interbrands Marketing & Distribution as regards regulatory/competition clearance and the next steps in completing the closing.