Linklaters and Talwar Thakore & Associates (TT&A) advised Lonza on CHF 2.3 billion sale of Capsules & Health Ingredients (CHI) business to Lone Star Funds.
Lonza Group AG has entered into a definitive agreement for the sale of its Capsules & Health Ingredients business to Lone Star Funds for an enterprise value of CHF 2.3 billion (USD 3 billion).
Lonza will receive upfront proceeds of CHF 1.7 billion (USD 2.2 billion) and retain a 40% stake in the business post-closing. The transaction is expected to close in the second half of 2026, subject to regulatory approvals.
The transaction also involves the global legal separation of the Capsules & Health Ingredients business from Lonza’s remaining operations prior to completion.
Linklaters advised Lonza on the transaction and the global legal separation of the Capsules & Health Ingredients business.
The international and cross-practice Linklaters team was led by Partners Marco G. Carbonare and Rupert Cheyne.
The core team also included Partners Martina Farkas, Simon Branigan, Michael Leicht, Jamie Coomber and Matthew Devey; Counsel Ruprecht Freiherr von Maltzahn; and Managing Associates Dominik Wegener, Mikhail Fufaev and Carol Sin.
Talwar Thakore & Associates (TT&A) advised Lonza Group AG on the India leg of the divestment.
The India leg of the transaction involved, inter alia, a reverse carve-out of employees of Capsugel Healthcare Private Limited not engaged in the target business into an Indian Lonza entity.
The team included Partner Neville Golwalla, and Associate Nandini Pradhan.
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