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Avellum Advises Allergan in Connection with a Global Sale of Part of Allergan’s Business to Teva

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Avellum has advised Allergan Inc. on Ukrainian matters related to its divestiture of its global generic pharmaceuticals business to Teva Pharmaceutical Industries Ltd. through a complex cross-border carve-out. Latham & Watkins acted as global employment counsel to Allergan Inc., with Cleary Gottlieb Steen & Hamilton LLP acting as global corporate counsel to the company on the approximately USD 40.5 billion transaction.

Allergan Inc. is a global pharmaceutical company focused on developing, manufacturing, and commercializing branded pharmaceuticals, devices, and biologic products for patients.  

Avellum advised on Ukrainian law matters, such as corporate, employment, personal data, and tax matters. The firm’s team was led by Managing Partner Mykola Stetsenko, with significant support from Associates Yuriy Zaremba and Andriy Gumenchuk, on corporate, employment, and personal data matters, and Senior Associate Vadim Medvedev on tax matters.

Editor’s Note: After this article was published, White & Case announced that it had advised a syndicate consisting of Bank of America Merrill Lynch, Barclays Bank plc, BNP Paribas, Citi, Credit Suisse, HSBC, Mizuho Bank, Morgan Stanley Senior Funding, Inc., RBC Capital Markets, and Sumitomo Mitsui Banking Corporation on the USD 8 billion bank financing for Teva Pharmaceutical’s acquisition of Allergan Generics. According to White & Case, “this followed the representation by White & Case of the same arrangers under the USD 28.75 billion of bridge facilities in support of the Allergan Generics acquisition.” 

The London-based White & Case team advising on the transaction was led by Partner David Becker and included Partners Gavin Weir and John Cunningham with support from Associates James Greene, Andrew Morris, Martin Mojzis, and Benjamin Bierwirth.

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