South African corporate finance journal DealMakers has named a transaction on which global law firm White & Case LLP advised, Kiara Health's acquisition of pharmaceutical manufacturing operations, "BEE Deal of the Year" at the Ansarada DealMakers Annual Awards 2021 in Johannesburg.
According to DealMakers' description of the winning empowerment transaction, Novartis made a strategic decision to move away from holding manufacturing in-house. Kiara Health acquired the manufacturing plant and several marketed products from Novartis' subsidiary Sandoz South Africa, creating a majority black-owned pharmaceutical manufacturer.
An independent panel selects the winners of the Ansarada DealMakers awards based on the transformational aspects of the deal, the execution complexity, the deal size, the potential value creation of the deal and other criteria.
