White & Case advises PIK creditors on financing for acquisition of Alliance Pharma

Global law firm White & Case LLP has advised the payment-in-kind (PIK) creditors on the debt and equity financing supporting the recommended offer to acquire Alliance Pharma plc by Aegros Bidco Limited, a company owned by DBAY Advisors and Edmond de Rothschild Equity Opportunities IV SLP.

The acquisition values the entire issued share capital of Alliance Pharma at £350 million. The PIK creditors comprise Three Hills, a private markets investment firm providing bespoke capital solutions in Europe and North America with €3 billion of assets under management, and Barings, a global asset management firm with over US$430 billion of assets under management.

Alliance Pharma is a UK listed international consumer healthcare company targeting the markets of France, the US, Germany, China and the UK. Headquartered in the UK, Alliance Pharma operates from eight offices around the world and has an extensive network of distributors to serve customers in more than 100 countries.

The White & Case team in London which advised on the transaction was led by partners Richard Jones and Peter Mason and included partners Allan Taylor and Will Smith and associates Akua Danso, Silvia Gill, Ben Judge, Monica Shah, Trishala Naidu and Ross Power.

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