Pharma Logistics Europe BV in Sale of French Leading Pharmaceutical Depositary
June 7, 2006
Cleary Gottlieb represented Pharma Logistics Europe BV and its holding company, Steinbeck Holding AG, in the €96 million sale of Depolabo SA to Sagard FCPR. The leveraged acquisition was financed through senior and mezzanine facilities, equity and quasi-equity instruments. Both Pharma Logistics and Steinbeck Holding reinvested alongside the purchaser and the target’s management through a minority subscription of shares and convertible bonds issued by the acquisition vehicle.
Depolabo is the French leading pharmaceutical depositary. Sagard is a €600 million French private equity fund.