Ashurst advises on recommended takeover of Dechra Pharmaceuticals plc
02 June 2023
02 June 2023
Global law firm Ashurst is advising Morgan Stanley & Co. International plc and Merrill Lynch International on the approximately £4.46 billion recommended cash offer for the entire issued and to be issued ordinary share capital of Dechra Pharmaceuticals plc ("Dechra") by Freya Bidco Limited. Freya Bidco is a newly formed company to be indirectly owned by (i) EQT Funds and (ii) Luxinva S.A. (a wholly owned subsidiary of the Abu Dhabi Investment Authority).
The cash consideration payable by Freya Bidco is priced in pounds sterling. Dechra is a global developer, manufacturer and supplier of products to service the veterinary profession worldwide. EQT is a leading global private markets investor focused on active ownership, founded in Sweden nearly three decades ago. ADIA’s purpose is to receive funds of the Government of Abu Dhabi allocated for investment and to invest those funds for the benefit of the Emirate of Abu Dhabi.
Morgan Stanley & Co. International plc and Merrill Lynch International are acting as joint financial advisers to EQT, Luxinva and Freya Bidco.
The Ashurst team is being led by partners Karen Davies, Tim Rennie and Harry Thimont, supported by counsel Darren Phelan, senior associates Maria McAlister, Connor Lovie and Liam Stoneley, associates Millie Gibbs, Kseniia Samokhina, Aaron Koh, Gareth Mair, Roshni Mehra, Jasmine Fox, Abby Buchan and Ellie Wilson and trainees/apprentices Sophie Hensher, Sasha Sawant and Alexandra Riley-Joseph.