On August 10, 2010, following receipt of approval from the European Commission and the Canadian Competition Bureau, which approvals were subject to divestiture commitments, Teva Pharmaceutical Industries Ltd. and ratiopharm Group's owner, VEM Holding, completed the purchase and sale of ratiopharm, the sixth-largest generic drug company worldwide. The final purchase price paid was €3.625 billion plus accrued interest of €186 million, or approximately US$4.95 billion.
Teva was represented by Volker Kullmann, Christian Zuleger, Björn Holland, David Fox, Jan Schinköth, Kai Terstiege, Daniel Wied, Markus Schmid, Oded Schein, Roderic Pagel, Wolfgang Nardi, Katrin Schreiber, Christine Kaniak and Anja Wagner of Kirkland & Ellis LLP; by Carsten Berrar and George Sampas of Sullivan & Cromwell LLP; and by David Tayar and William Rooney of Willkie Farr & Gallagher LLP as antitrust advisors. Bennett Jones LLP acted as Canadian counsel to Teva with a team including Kathleen Keller-Hobson and Russel Drew (corporate); Sheridan Scott and Adam Kalbfleisch (competition) and Dominique Hussey (IP).
VEM Vermögensverwaltung GmbH was represented by Timothy Wilkins, Kyle Lakin, Andreas Fabritius, Oliver von Rosenberg, Christian Sistermann, Yorck Jetter, Marcel Kaufmann, Thomas Lübbig, Jochen Dieselhorst, Jens Liese, Christoph Kämper, Stephan Reemts, Michiel Huizinga, Lars Christian Göhmann, Ruben Hofmann, David Beutel, Jacques Großkreuz, Carsten Endres, Michael Ram, Johannes Dietrich, Max Klasse and Moritz Lorenz of Freshfields Bruckhaus Deringer LLP; and in Canada by Stewart Sutcliffe (corporate), and Jeffrey Brown and Michael Kilby (competition) of Stikeman Elliott LLP.
ratiopharm GmbH was represented by Eckhard Martin and Holger Alfes of Noerr LLP.
Peter Hoegen, Helge Schäfer, Pierre Schleimer, Asmus Mihm, Nicolaus Ascherfeld, Bernhard Herding, Sebastian Schrag, Karsten Raupach, Yannick Arbaut and Heike Weber of Allen & Overy LLP acted as legal advisors for Merckle Group's steering committee banks.