Shoppers Drug Mart

Osler, Hoskin & Harcourt LLP acted for Shoppers Drug Mart in connection with the conditional sale of Shoppers Drug Mart/Pharmaprix to an investor group led by Kohlberg Kravis Roberts & Co. (KKR). The investor group also includes the Senior Management of Shoppers Drug Mart, Bain Capital, Charlesbank Capital Partners, DLJ Merchant Banking and the Ontario Teachers’ Penison Plan Board. The Cdn $2.55 billion transaction, announced on November 18, 1999, is conditional upon British American Tobacco p.l.c. (BAT) acquiring the 58% of [Shoppers Drug Mart’s parent] Imasco’s common shares it does not already own, as well as other customary closing conditions. BAT has agreed to acquire these common shares at a final price of $41.60 per share.

Shoppers Drug Mart was represented by Stephen P. Sigurdson, Sivan Fox and Stephen Solursh (corporate) and S. Firoz Ahmed and Patrick Marley (tax ) of Osler, Hoskin & Harcourt LLP. BAT was represented by Stikeman, Elliott lawyers William J. Braithwaite and Karen E. Jackson. KKR was represented by Simpson Thacher & Bartlett’s G. Horowitz and W. Anderson. Michael K. Feldman and Kevin M. Morris of Torys provided Canadian counsel to KKR.

Lawyer(s)

Gary I. Horowitz Kevin M. Morris Patrick W. Marley Michael K. Feldman Sivan A. Fox Firoz Ahmed Stephen Solursh William J. Braithwaite Karen E. Jackson

Firm(s)