GTM and Skadden head up $1.8bn AstraZeneca sell-off
Greenberg Traurig Maher (GTM) and Skadden Arps Meagher & Flom have taken lead roles on AstraZeneca's $1.8bn (£1.1bn) sale of its Swedish dental subsidiary Astra Tech to Dentsply International. GTM took the lead role for AstraZeneca on the sale, which came after a competitive auction process run by JP Morgan. London co-managing shareholders Paul Maher and Fiona Adams took the lead roles for the firm.
June 22, 2011 at 12:36 PM
2 minute read
Greenberg Traurig Maher (GTM) and Skadden Arps Meagher & Flom have taken lead roles on AstraZeneca's $1.8bn (£1.1bn) sale of its Swedish dental subsidiary Astra Tech to Dentsply International.
GTM took the lead role for AstraZeneca on the sale, which came after a competitive auction process run by JP Morgan. London co-managing shareholders Paul Maher (pictured) and Fiona Adams took the lead roles for the firm.
The transaction – which was announced this morning (22 June) and is expected to close later this year – also saw Swedish leader Mannheimer Swartling instructed on Swedish law for AstraZeneca, fielding a team led by Stockholm-based corporate partner Adam Green.
Skadden, meanwhile, is advising dental products company Dentsply on the acquisition, fielding a London-based team led by M&A partner Michal Berkner alongside corporate associate Sandro de Bernardini.
The sale of Astra Tech to Dentsply is part of AstraZeneca's strategy to focus on its core medicine development.
The role for Skadden comes after the US firm advised Nokia Siemens Networks (NSN) on its $975m (£600m) purchase of assets from Motorola, a deal which was announced in July last year and completed on 30 April 2011.
GTM, meanwhile, recently secured a coveted first-time spot on InterContinental Hotels Group's panel of EMEA legal advisers.
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