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White & Case Advises Karo Pharma on SEK 2 Billion Rights Issue

Global law firm White & Case LLP has advised Karo Pharma AB (Karo Pharma) on its fully underwritten SEK 2 billion (around US$ 208 million) rights issue.

The rights issue was fully underwritten by Karo Intressenter AB, which is controlled by EQT, and Venture Holding S.à r.l. SPF.

Karo Pharma completed its acquisition of Trimb Holding AB (Trimb) on September 12, 2019. The rights issue will repay a bridge loan facility related to the acquisition, and to strengthen Karo Pharma's ability to acquire companies and product portfolios. Trimb owns licenses to, markets and sells a large number of over-the-counter pharmaceuticals and consumer healthcare products. It has around 90 employees and its product portfolio includes brands such as Flux, Nailner and Pevaryl.

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 Stockholm and is majority owned by leading alternative investment firm EQT.

The White & Case team in Stockholm which advised on the transaction was led by partners Jan Jensen and Johan Thiman, and included associates Patrik Erblad, Gustaf Wiklund, Björn Torsteinsrud and Ludvig Petri.

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