Xellia Pharmaceuticals, a pharmaceutical group focusing on the development, manufacturing and global commercialization of anti-infective therapies, announced that Novo A/S, the holding company of the Novo Group, has entered into an agreement to purchase all shares of the group for approximately US $700 million from 3i and other current shareholders, as detailed in the company press release below. Closing of the transaction will be subject to relevant competition law approvals, and is expected to take place during the third quarter of 2013.
Latham & Watkins LLP advised Novo A/S in the transaction with a corporate team led by London partner Mike Bond and Orange County partner Charles Ruck, and London associate Robbie McLaren. New York corporate partner Stephen Amdur and litigation counsel Virginia Tent advised on New York law, Washington, D.C. corporate partner Ben Haas and London litigation partner Omar Shah on regulatory matters, and Silicon Valley partner Charles Hoyng advised on intellectual property issues.
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