15 May 2020
- Charles Adams, Ferdinando Poscio, Pasquale Bifulco, Minerva Vanni, Gioacchino Foti, Francesco Napoli, Paolo Sersale, Carlo Galli, Andrea Sgrilli, Olaf Mertgen, Cord von Mandelsloh, Steffen Schellschmidt, Jennifer Seipelt, Christian Cranmore, Michael Dakin, Patrick Meson, Sydney Sawyier, Pierre-Benoit Pabot du Châtelard, Guilhem Dardoize, Sophie Laporte, Filippo Isacco, Elisa Ielpo, Luciano Di Via, Pasquale Leone
- Milan, Rome, Brussels, Düsseldorf, Frankfurt, Munich, London, Paris
Clifford Chance advises Dedalus Holding S.p.A, controlled by Ardian, on completing the acquisition of part of the Agfa-Gevaert Group's healthcare IT Business
International law firm Clifford Chance advised Dedalus Holding S.p.A, a company 75% majority-owned by Ardian and operating internationally in the clinical healthcare software sector, on the acquisition of part of the healthcare software business of Agfa-Gevaert, a multinational company that develops, manufactures and distributes analogue and digital imaging systems and IT solutions.
The subject of the agreement is the acquisition of German, French, Austrian, Swiss and Brazilian activities related to clinical, diagnostic and hospital management software and related to IT imaging systems for a total enterprise value of €975 million.
Clifford Chance assisted Dedalus Holding S.p.A. in the transaction, which included the Group's debt refinancing, as well as a PIK bond issue for a total amount of €140 million, fully subscribed by institutional investors, a bridge credit facility for a total amount of €680 million and a super senior revolving credit facility for a total amount of €80 million, with a cross-border team led out by Milan and composed by partners Charles Adams and Ferdinando Poscio, senior associate Pasquale Bifulco, associate Minerva Vanni and trainees Marco Convertini and Giulia Petragnani Gelosi (all Finance, Milan); partner Gioacchino Foti and associate Francesco Napoli (both Capital Markets, Milan), partner Carlo Galli and senior associate Andrea Sgrilli (both Tax, Milan); partner Olaf Mertgen (Frankfurt), counsel Cord von Mandelsloh (Düsseldorf, both Tax); partner Steffen Schellschmidt (Frankfurt), senior associates Jennifer Seipelt and Christian Cranmore (both Munich), as well as associate Gürkan Akbaba (Frankfurt, all Finance); partner Michael Dakin, senior associate Patrick Meson and Sydney Sawyier (all Capital Markets, London) and partner Pierre-Benoit Pabot du Châtelard and associates Guilhem Dardoize and Sophie Laporte (all Finance, Paris).
Furthermore, Clifford Chance assisted Dedalus Holding S.p.A. in all the other areas of the transaction – M&A, Antitrust, Competition Law, Data Protection and IP, Employment and Tax – with a multidisciplinary and cross-border team, lead out of Milan, that included the Brussels, Dusseldorf, Frankfurt, London, Paris and Rome offices, comprising partner Paolo Sersale, counsel Filippo Isacco, associate Elisa Ielpo and trainee Milena Raffaldi (all Corporate, Milan), partner Luciano Di Via and senior associate Pasquale Leone (both Antitrust, Milan) and partner Carlo Galli and senior associate Andrea Sgrilli (both Tax, Milan).
For the complete team's reference, please see the previous press release issued on December, 2019 in light of the deal's announcement.