Slaughter and May advised GlaxoSmithKline - sale of part of its stake in Aspen and its entire stake in Genmab

Slaughter and May advised GlaxoSmithKline plc (GSK) on the sale of approximately half of its 12.4% stake in Aspen Pharmacare Holdings Ltd (Aspen) which was announced on 13 March 2015. The disposal was effected by way of an accelerated bookbuilt offering and raised gross proceeds equivalent to £574 million. Following the sale, GSK will hold approximately 6.2% of the issued share capital of Aspen.

We supported GSK’s in-house legal counsel, Nicola Fell, and worked as an integrated team with Cleary Gottlieb Steen & Hamilton LLP advising on US law and Bowman Gilfillan Inc. advising on South African law.

Slaughter and May also advised GSK on the sale of its entire stake of approximately 7.9% of the share capital of Genmab A/S (Genmab) which was announced on 5 February 2015. The disposal was effected by way of an accelerated bookbuilt offering and raised gross proceeds equivalent to £194 million.

We supported GSK’s in-house legal counsel, Nicola Fell, and worked as an integrated team with Cleary Gottlieb Steen & Hamilton LLP advising on US law and Gorrissen Federspiel advising on Danish law.

Cleary Gottlieb Steen & Hamilton: Sebastian R. Sperber (partner), Rachel F. Serlen (associate)

Bowman Gilfillan: Ezra Davids (partner), Ryan Wessels (associate)

Gorrissen Federspiel: Klaus Søgaard (partner), Caroline Boysen (assistant attorney)