Global law firm White & Case LLP has advised Karo Pharma AB on its fully underwritten SEK 2.5 billion (approximately US$260 million) rights issue.
The rights issue was fully underwritten by Karo Intressenter AB, which is controlled by EQT. Karo Pharma completed its acquisition of Sylphar on 13 January 2022. The rights issue will repay a bridge loan facility related to the acquisition as well as being used to strengthen Karo Pharma's ability to acquire companies and product portfolios.
Karo Pharma specializes in the sale and marketing of prescription pharmaceuticals and over-the-counter products sold in pharmacies and other retail outlets. The company is listed on Nasdaq First North and is majority owned by global investment organisation EQT.
The White & Case team in Stockholm which advised on the transaction was led by partners Johan Thiman and Patrik Erblad and included associates Gustaf Wiklund, Fredrik Johansson, Izabella Barisa, Zacharias Ngiam and Timothy Sjövall.
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