22 Nov 2011

Clayton Utz advises on iNova Pharmaceuticals sale

Sydney, 22 November 2011: Clayton Utz has advised Ironbridge Capital and Archer Capital on the sale of iNova Pharmaceuticals to NYSE-listed Valeant, announced to the US market on 21 November. The deal values iNova at approximately A$700 million.

Clayton Utz Private Equity partner David Stammers, together with senior associate Kounny Rattley, is leading the Clayton Utz team advising Ironbridge and Archer. The deal is expected to complete by end year.

Commenting on the transaction, Mr Stammers said: "We are pleased to support Ironbridge and Archer on their successful negotiations to sell iNova. Clayton Utz advised on the original investment in iNova in 2006 by Ironbridge and Archer and has continued to advise iNova over the years."

iNova Pharmaceuticals is a manufacturer and distributor of prescription and over-the-counter pharmaceutical products in the Asia-Pacific and South Africa.

Clayton Utz's Private Equity team has advised on a number of high-profile private equity-related transactions in recent months, including the Initial Public Offering of Collins Foods, the sale of Independent Liquor to Asahi Holdings, and the acquisition of MYOB by Bain Capital.

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Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.