DSM Inks $2.6B Spinoff Deal With JLL Partners

Law360, New York (November 19, 2013, 2:17 PM EST) -- Royal DSM will create a new pharmaceutical company by spinning off its DSM Pharmaceutical Products business and combining it with a pharmaceutical manufacturer owned by private equity shop JLL Partners in a $2.6 billion deal, the companies said Tuesday. 

DSM will own 49 percent of the new company and JLL will have the rest, according to the announcement. DSM is calling the new company NewCo for the time being, it said. 

At the start, DSM will spin off its pharmacy business and receive a seller note of...
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