01 Dec 2011 | 10:49 am | 1 min. read
International law firm Pinsent Masons has advised Yule Catto & Co plc, international producer of speciality chemicals, on the sale of its pharmaceuticals business, Uquifa to the listed Indian chemicals manufacturer Vivimed Labs for £35m.
Uquifa, which operates through Spanish and Mexican subsidiaries, is an established manufacturer of active pharmaceutical ingredients. The company has manufacturing sites in Spain and Mexico employing a total of 390 people.
Adrian Whitfield, Chief Executive of Yule Catto said: "I am delighted to be able to announce this disposal. Following the PolymerLatex acquisition we completed earlier this year, this marks the final step in a long process of transforming Yule Catto into a substantial highly focussed Specialty Polymer business. We are pleased we have been able to find a good home for our Pharma business and wish the new owners and our former employees every success."
The Pinsent Masons team advising on the sale was led by Martin Shaw, Head of Corporate, Europe, and Shiv Sibal, Senior Associate, supported by Emma Metcalfe (corporate), Michael Hunter and Jon Robinson (tax). The team also worked closely with Yule Catto's Spanish advisers, Garrigues, and their Mexican advisers, Baker & McKenzie. Vivimed were advised by Dickinson Dees.
Shiv Sibal, Corporate Senior Associate at Pinsent Masons LLP, commented: "The sale of Uquifa represents an important development for Yule Catto and will allow them to continue to focus on the growth of their Polymers division following their transformational acquisition of PolymerLatex earlier this year. Having worked closely with them on the PolymerLatex acquisition, we are delighted to have supported Yule Catto again in achieving one of its strategic objectives."
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