According to a press release issued on Monday, Advent will support the Zentiva management team to invest in the company’s operations, production facilities and R&D pipeline. The deal was announced in April 2018 and was subject to finalisation of definitive agreements, completion of the appropriate social processes and approval of relevant regulatory authorities.

Țuca Zbârcea & Asociații advised Sanofi on the deal, with Bucharest M&A partner Sorin Vlădescu and Capital markets partner Silvana Ivan-Hanganu at the helm of the team. They advised on the Romanian legal aspects incident to the transaction, including various corporate, commercial, M&A issues, as well as assisted in the structuring of the transaction from capital markets perspective (considering that Zentiva S.A. Romania is a company listed on the stock exchange).

Advent is a global investor, with over 25 years’ experience of investing in the healthcare sector. It has extensive experience of executing corporate carve-outs and leveraging this expertise will support Zentiva as it enters a new phase of its history as an independent business.

Headquartered in Prague, Zentiva reaches over 40 million patients in 25 European countries, including Romania, being one of the largest generics players in Europe.