Clifford Chance

Clifford Chance advises on financing for Cinven’s public acquisition offer for SYNLAB

Global law firm Clifford Chance is advising Ephios Luxembourg S.à r.l. (Ephios), an entity controlled by funds managed and/or advised by Cinven, on the financing in relation to its public acquisition offer for all outstanding shares of SYNLAB AG (SYNLAB) not directly held by it.

SYNLAB is one of the leading European clinical laboratory and medical diagnostic services companies and is listed in the Prime Standard on the Frankfurt Stock Exchange. The financing is underwritten by a group of banks and provided by a number of direct lenders.

International private equity firm Cinven is a long-standing client of the firm. The team recently advised Cinven on the financing for its acquisition of a majority stake in Amara NZero, including the first-ever green bond issued in connection with a European LBO.

The multi-jurisdictional cross-practice team was led by partner Richard Day with senior associates Neil Cavanagh, Silvia Menendez and Amy Rose and associate Alexandra Martin (London Finance), together with partner Martin Wurth and senior associates Sadan Ramovic and Alexandre Sensi and associate Hilda Bertame (Luxembourg finance). Advice was also provided by partner Michael Dakin and senior associate Phil Houten and associate Jake DuCharme as to US Securities and partner Nicholas Kinnersley as to public acquisition financing (all London based), with partner Steffen Schellschmidt (Munich) advising on German law matters.

The offer will be subject to customary conditions, in particular regulatory clearances.