20 July 2004 – LAWFUEL – See latest law announcements under PRESS RELEASES
Clifford Chance advises Bayer AG on the acquisition of Roche Consumer Health Clifford Chance is advising Bayer AG on the acquisition of Roche Consumer Health. The purchase price amounts to EUR 2.38 bn. The transaction is subject to the approval of the relevant antitrust authorities.
By acquiring this business Bayer will become one of the top three over-the-counter (OTC) consumer health companies worldwide. Bayer AG will also acquire Roche’s 50 % share of the 1997 Bayer/Roche joint venture in the US as well as five Roche production sites in Grenzach (Germany), Gaillard (France), Pilar (Argentina), Casablanca (Morocco) and Jakarta (Indonesia). The OTC business of the Japanese company Chugai, in which Roche has a majority stake, is not included.
The Consumer Care Division, part of Bayer HealthCare AG, and Roche Consumer Health share a heritage of building on their longstanding brands for commercial success. The combined company will have sales of EUR 2.4 bn and 6,700 employees in 120 countries.
The Clifford Chance Düsseldorf team led by Corporate partner Dr. Rolf Giebeler and Dr. Christoph Witte (Associate) is comprised of the associates Lars Benger, Marc Besen, Christoph Billwiller, Caroline Gilles, Dr. Christoph Holstein, Marc L. Holtorf, Dr. Stefan Middendorf, Dr. Peter Remmen, Dr. Hilka Schneider and Susanne Ullrich.
Dr. Joachim Schütze (Partner) and the associates Rolf Hünermann and Ruth Jorias advised on cartel law; Dr. Peter Dieners (Partner) and Marc Besen (Associate) on pharmceutical law. Real estate and environmental law advice was provided by Frankfurt partners Horst Schlemminger and David Elshorst.
