Linklaters advises Lonza on divestment of its Capsules & Health Ingredients (CHI) business

Linklaters has advised Lonza on the definitive agreement relating to the sale of the Capsules & Health Ingredients (CHI) business to Lone Star Funds for an enterprise value of CHF 2.3 billion (USD 3 billion) at closing. Lonza will receive upfront proceeds of CHF 1.7 billion (USD 2.2 billion) and retain a 40% stake in CHI post-closing. The transaction is expected to close in H2 2026, subject to regulatory approvals. Linklaters also advises Lonza on the global legal separation of CHI from the remaining Lonza business to be completed prior to closing of the transaction.

Lonza is a world leading contract development and manufacturing organization (CDMO) headquartered in Basel, Switzerland and is dedicated to serving the healthcare industry. With the divestment of CHI, Lonza delivers on its commitment to transform into a pure-play CDMO business.

The international and cross-practice Linklaters team is led by Marco G. Carbonare (Partner, Corporate/M&A, Frankfurt) and Rupert Cheyne (Partner, Corporate/M&A, London).

The core team also includes Martina Farkas (Partner, Corporate/M&A, Munich), Simon Branigan (Partner, Global Head of Corporate, London), Michael Leicht (Partner, TMT, Frankfurt), Jamie Coomber (Partner, Tax, London), Matthew Devey (Partner, Employment, Frankfurt), Ruprecht Freiherr von Maltzahn (Counsel, Corporate/M&A, Munich), Dominik Wegener (Managing Associate, Corporate/M&A, Hamburg), Mikhail Fufaev (Managing Associate, Corporate/M&A, Düsseldorf) and Carol Sin (Managing Associate, Corporate/M&A, London).

The Linklaters team comprises further lawyers in 18 jurisdictions across the globe, including Partners Greg Palmer (TMT, London), Heiko Schiwek (Corporate/M&A, New York), Christoph Barth (Antitrust & Foreign Investment, Düsseldorf) and Paul Joseph (Intellectual Property, London), Counsels Wendy Suh (Corporate/M&A, New York), Atif Wolfgang Bhatti (Intellectual Property Frankfurt) and Jack Harrison (Tax, London), Managing Associates Kevin Eisenschmidt (Corporate/M&A, Frankfurt), Luca Rawe (Employment, Düsseldorf), Alexander Krieg (Corporate/M&A, Frankfurt), Cecilia Drepper (Intellectual Property, Frankfurt), Ann-Christin Käser (Antitrust & Foreign Investment, Munich), Alexander Zitzl (Tax, Munich) and Takahisa Watanabe (Corporate/M&A, Tokyo), Associates Laura Dürr (Employment, Frankfurt), Jonas Baumann (TMT, Frankfurt), Nick Burgold (TMT, Frankfurt), Florian Kopp (Healthcare Regulatory, Berlin), Fabian Wasl (Corporate/M&A, Munich), Deborah Wong (Corporate/M&A, London), Mona Zhang (Corporate/M&A, London), Gautami Govindrajan (Associate, Corporate/M&A, London), Tooru Nishido (Corporate/M&A, London), Malak Toshani (Tax, London), Erasmia Petousi (Antitrust & Foreign Investment, London), Jason Bath (Corporate/M&A, London), Jenny Döllmann (Intellectual Property, Frankfurt), Gallus Vögel (Corporate/M&A, Frankfurt), Volodymyr Yakubovskyy (Foreign Lawyer, Corporate/M&A, Frankfurt), Shaziea Habibi (Corporate/M&A, Brussels), Cecilia Pelosi (Corporate/M&A, Milan), Guglielmo Maria Barbieri (Corporate/M&A, Milan), Tomoya Yamamoto (Finance/Energy & Infrastructure, Tokyo) and Svetlana Eisner (Corporate/M&A, New York) as well as the legal project management team led by Nursel Tevetoglu (Corporate/M&A, Frankfurt).

The Linklaters team is working alongside Lonza’s in-house legal counsels Daniel Blaettler (General Counsel Corporate, Finance & Transactions), Sarah Chevalley (Associate General Counsel), Dr Albert Pereda (Associate General Counsel) and Alexander Auster.