Gernandt & Danielsson advised the sellers of Corvette Pharmaceutical Services Group to Recipharm

The contract development and manufacturing organisation, Recipharm AB, has acquired the Milan based Corvette Pharmaceutical Services Group from Italian private equity group, LBO Italia Investmenti s.r.l.

The transaction values Corvette at an enterprise value EUR 120 million (SEK 1.1 billion) and the preliminary equity purchase price at closing was EUR 100 million, of which EUR 50 million was paid in cash and EUR 50 million by a convertible bond.

Gernandt & Danielsson acted as legal advisor to LBO Italia Investmenti and certain other sellers. The Gernandt Danielsson team included Partners Krister Skoog and Carl Westerberg.