Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised Ecuphar NV (‘Ecuphar’), a European animal health company focused on the development and sale of veterinary pharmaceutical products, on its merger with Animalcare Group plc (‘Animalcare’). Animalcare is an AIM-listed UK supplier of generic veterinary medicines and identification products and services. The market value of the combined group following completion will be approximately £225m.
 
The merger comprises a reverse takeover for Animalcare according to the AIM Rules and therefore requires the approval of Animalcare’s shareholders. It also includes a placing by Animalcare in order to raise capital for the cash element of the consideration, with the remainder of the consideration being satisfied through the issue of new Animalcare shares to the vendors. This will lead to the majority shareholders in Ecuphar holding more than 30 per cent of the shares in Animalcare post-completion.
 
The Freshfields team was led by corporate partners Oliver Lazenby and Deborah Janssens. Partners Peter Clements and Axel Haelterman led on tax matters, partner Andrew Murphy led on employment matters, and partner Thomas Janssens led on antitrust and competition matters. IP support was led by senior associate Andrew Sheridan, while real estate support was provided by associates Sam Howell and Dami Oshowo.