Shearman & Sterling advised International Chemical Investors Group (ICIG) on the acquisition of Sandoz Industrial Products GmbH from Novartis. The transaction is expected to close on April 1, 2016.
Sandoz Industrial Products is a German manufacturer of enzyme-based fermentation products and intermediates particularly for 7-ACA antibiotics. With this transaction, Sandoz Industrial Products will become part of the CordenPharma Group, the pharma platform of ICIG. Upon closing of the deal, CordenPharma Group will become one of the major suppliers of 7-ACA.
ICIG is a privately owned industrial group with sales in excess of € 2 billion and more than 6,000 employees worldwide. With the newly acquired plant, ICIG further increases its footprint in the Frankfurt Rhine-Main area.