On August 18, 2009 Alliance Pharmaceuticals Limited completed the purchase of Buccastem and Timodine from Reckitt Benckiser for a total consideration of £7.5 million funded in part by a vendor placing of new ordinary shares in the share capital of Alliance Pharma plc (the parent company of Alliance Pharmaceuticals Limited), with the remainder of the consideration being satisfied from existing cash resources and bank lending. The firm advised both Alliance Pharma plc and Alliance Pharmaceuticals Limited in relation to the purchase and the vendor placing.
Paul Ranson, Chris Chrysanthou, Stuart Richards and Daniel Joll from Fasken Martineau advised the Alliance Group on this transaction. Paul and Stuart advised on the commercial, IP and regulatory aspects of the deal and Chris and Daniel advised on the corporate aspects of the acquisition and the vendor placing. Cerys Williams, from the employment team, handled TUPE issues.