Eisenberger & Herzog, Milbank, and Rojs, Peljhan, Prelesnik & Partners have advised the Sartorius Group on its acquisition of BIA Separations and the merger of is into its subgroup Sartorius Stedim Biotech. Schoenherr advised the unidentified majority shareholder on the sale.
The transaction has a total value of EUR 360 million, of which EUR 240 million will be paid in cash and EUR 120 million in Sartorius Stedim Biotech shares. Additionally, three tranches of earn-out payments based on performance over the next five calendar years were agreed. The acquisition is subject to customary closing conditions and is expected to close by the end of 2020.
Eisenberger & Herzog describes the Sartorius Group as "a leading international partner of biopharmaceutical research and the industry." according to the firm, "in fiscal 2019, the group earned sales revenue of some EUR 1.83 billion with around 9,000 employees at approximately 60 manufacturing and sales sites globally.”
BIA Separations develops and manufactures products for the purification and analysis of large biomolecules such as viruses, plasmids, and mRNA, which are used in cell and gene therapies and other advanced therapies.
Eisenberger & Herzog’s team included Partner Josef Schmidt, Associates Claudia Kendlbacher and Thomas Krach, and Attorney Karoline Hofmann.
Milbank’s team was led by Frankfurt-based Partner Michael Bernhardt.
The Rojs, Peljhan, Prelesnik & Partners team in Slovenia was led by Partner Bojan Sporar.
Schoenherr's team included, in Vienna, Partners Thomas Kulnigg, Markus Piuk, and Michael Woller, Counsel Sascha Schulz, Associates Maximilian Nutz, Andreas Lengger, Dominik Tyrybon, and Sebastian Lukic, and Attorney Michael Marschall; and in Slovenia, Partners Vid Kobe, Eva Skufca, and Bojan Brezan, Associate Ursa Usenicnik, and Attorneys Matej Crnilec, Peter Gorse, Marko Frantar, and Jurij Lampic.