Ashurst advises on Mölnlycke twin-track exit

29 January 2007

Two teams from international law firm Ashurst advised on the 'twin-track' exit of Mölnlycke Health Care, a process which concluded in the sale of Mölnlycke to Investor AB and Morgan Stanley Principal Investment for €2.85 billion, announced on 26 January 2007.

The Ashurst M&A team, representing Apax in a competitive auction process, was led by corporate partner Stephen Lloyd and senior associate Mark Sperotto.

A separate Ashurst team led by UK corporate partner Anthony Clare and US corporate partner Daniel Bushner advised Mölnlycke on a proposed global offering on the Official List of the London Stock Exchange as an alternative exit option.

Mölnlycke, owned by Apax-managed funds and management, is a leading global medical products company which manufactures single-use wound care and surgical products, primarily for the professional healthcare sector. The Swedish-based company is the leading provider of single-use surgical products in Europe and sells its products in over 90 countries, with production facilities in Malaysia, Thailand, the Czech Republic, Finland, Belgium and the UK.

The Ashurst teams comprised lawyers from throughout the firm's European network, including: from Ashurst London, Eric Stuart, Simon Baskerville, Caroline Rayson, Alex Lewis, Max Slade, Andrew Lewis, Paul Bagon, Alex Verzariu, Tom de Pelet (corporate); Barbara Allen, Stephen Ravenscroft, Lauren Moore, Fuat Sami (employment, incentives & pensions); Mark Lubbock, Martin Page, Lindsey Depuydt (technology and commercial); Emma Cockerton (environment); Warrick Price (international finance); Chris Taylor, Jamie Ritchie (real estate), Luke Ainger (competition); Emmanuel Vergnaud and Constance Le Vert in Paris; Pedro Ester and Victoria Navarro in Madrid; Silvia Sandrin in Milan; Gerhard Schwartz and Caspar von Schnurbein in Munich; Carl Meyntjens, Kelly Cherretté, David Du Pont and Arnaud Wtterwulghe in Brussels; and Jonas Bergh, Maria Nilsson, Camilla Holmkvist, Magnus Björkander, Hanna Alsén, Carolina Tendorf, Demem Nzeribe and Kaj Larsen in Stockholm.

Freshfields Bruckhaus Deringer (Julian Long), Cederquist and Baker & McKenzie advised the buyers. Also assisting on local law issues were lawyers from Hannes Snellman (Finland), Associated Law Office Vitek & Mŕazek (Czech Republic), Johnson Stokes & Master (Thailand) and Chooi & Company (Malaysia).

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