Freshfields Bruckhaus Deringer LLP has advised Merck KGaA, a leading science and technology company in healthcare, life science and performance materials, on the sale of its global Consumer Health business to Procter & Gamble for approximately €3.4bn cash, or approximately $ 4.2 billion at current exchange rates.

The transaction will be executed through the sale of Merck’s shares in a number of legal entities as well as various asset sales and comprises the Consumer Health business across 44 countries, including more than 900 products and two Consumer Health-managed production sites in Spittal (Austria) and Goa (India).

The cross-border Freshfields team is being led by partners Jennifer Bethlehem, Jochen Dieselhorst and Lars Meyer, who are supported by employment and pensions partners Andrew Murphy and René Döring, partner Rod Carlton on antitrust, partner Christian Ruoff on tax and Michael Ramb and Marcel Kaufman from the regulatory practice group.