Knight Therapeutics Inc. completed the acquisition of 51.21% stake in Biotoscana Investments S.A. from Advent Cartagena S.a r.l., Essex Woodlands Health Ventures VIII, L.P., Essex Woodlands Health Ventures VIII-A, L.P. and Essex Woodlands Health Ventures VIII-B, L.P. managed by Essex Woodlands Management, Inc., MAZAL INVESTMENT VENTURES LTD., Robert Friedlander and Roberto Guttman.
RBC Capital Markets acted as an exclusive financial advisor. Hillel W. Rosen, Brian Kujavsky, Shayna Goldman and Julia Knafo of Davies Ward Phillips & Vineberg LLP, Martin Cerruti, Cristina Vignone and Alejandro Alterwain of Ferrere Abogados , Socios María Shakespear, Roberto Crouzel, Horacio E. Beccar Varela and Agustín Waisman of Estudio Beccar Varela, Guilherme Sampaio Monteiro, Milena Casado de Oliveira, Marcelo Junqueira de Mello, Taisa Sani and Letícia Fonseca Marcondes Venancio of Pinheiro Neto Advogados, Carlos Urrutia amd Tomás Holguín of Brigard & Urrutia S.A.S. acted as legal advisor for Knight Therapeutics. Diego Gamarra, Diego Cuenca and Fernando de Posadas of Posadas Posadas & Vecino acted as a legal adviser for Biotoscana Investments, Advent International and Essex Woodland. Lucas Granillo Ocampo, Raúl Granillo Ocampo, Gisela Marina Montesanto and Regina Gaggiotti of Estudio Garrido Abogados acted as legal adviser to Biotoscana Investments, Advent International and Essex Woodland. Rodrigo Millar de Castro Guerra and Paula Magalhães of Lobo & de Rizzo Advogados acted as a legal adviser to Biotoscana Investments. Pierre-Alexandre Degehet and Linda Harroch of Bonn Steichen & Partners acted as a legal adviser to Advent International.
Knight Therapeutics Inc. (TSX:GUD) completed the acquisition of 51.21% stake in Biotoscana Investments S.A. (BOVESPA:GBIO33) from Advent Cartagena (Luxembourg) S.a r.l., Essex Woodlands Health Ventures VIII, L.P., Essex Woodlands Health Ventures VIII-A, L.P. and Essex Woodlands Health Ventures VIII-B, L.P. managed by Essex Woodlands Management, Inc., MAZAL INVESTMENT VENTURES LTD., Robert Friedlander and Roberto Guttman on November 29, 2019. Knight Therapeutics will now begin the process to launch a mandatory tender offer to acquire the remaining 48.8% interest in Biotoscana Investments S.A. from public shareholders on similar terms, for expected consideration of approximately BRL 568 million, assuming all public shareholders tender their shares. The tender offer process is expected to take 4 to 8 months from launch to completion and is expected to be fully funded with cash from Knight's balance sheet. As a result of the transaction, Knight Therapeutics now controls the Board of Directors of Biotoscana Investments.