24 April 2012
Clifford Chance advises Pfizer on the Divestment of its Nutrition Business To Nestlé
Leading international law firm Clifford Chance is one of the Pfizer Legal Alliance firms advising Pfizer on the sale of its Nutrition business to Nestle for $11.85 billion in cash.
Pfizer’s Nutrition business sells speciality infant and toddler formulas, follow-on formulas, and maternal and adult nutrition products and recorded revenues of approximately $2.1 billion in 2011, an increase of 15% versus 2010. Pfizer acquired the business as part of its $68bn purchase of Wyeth in 2009, which Clifford Chance also advised on.
Antitrust partner and Office Managing Partner for Brussels, Tony Reeves, together with Corporate partner Emma Davies (China) led the team, supported by counsels Yip Ming Yen (Singapore) and Jim Back (Brussels).
The Pfizer Legal Alliance (PLA) is a collaborative partnership between Pfizer and 19 law firms. The other PLA firms retained by Pfizer in this deal were Skadden, Arps, Slate, Meagher & Flom LLP and DLA Piper LLP.