Goldman Sachs AM PE Unit Buys Controlling Stake in Norgine
Posted on 05/28/2022
The Private Equity business within Goldman Sachs Asset Management agreed to buy a controlling stake in Dutch pharmaceutical company Norgine Europe B.V. from its founding family at a reported €1.9 billion enterprise value. The Stein Family will continue to own a significant stake in Norgine. Norgine has a diversified, differentiated portfolio of approximately 40 products. Norgine’s offering comprises the iconic MOVICOL brand. Norgine has a direct presence in 16 European countries, as well as Australia and New Zealand and employs over 1,500 people.
Norgine was advised by Moelis & Company, Rothschild & Co, Latham & Watkins LLP, PwC, and Jamieson Corporate Finance. Goldman Sachs Asset Management was advised by Goldman Sachs International – Investment Banking Division, Jefferies International Limited, White & Case LLP, and Deloitte LLP.
The transaction is subject to regulatory approvals and is expected to complete in 2022, following receipt of such approvals.