WuXi Biologics purchases biologics and COVID-19 vaccines facility from Bayer
Wuppertal — The globally active Chinese group WuXi Biologics has completed the acquisition of a plant for biological substances from Bayer AG in Wuppertal. The closing took place in Cologne on April 30, 2021. A team led by Dirk W. Kolvenbach, Partner at the Düsseldorf office, and Michael Pauli from the Cologne office of Heuking Kühn Lüer Wojtek provided legal advice to the Chinese group on the purchase. The transaction volume, including the lease, is around €150 million. The transaction is expected to close in the first half of 2021 and is subject to regulatory review.
The new facility in Wuppertal is one of the largest vaccine production sites in Germany and will be used to manufacture highly sought-after substances for COVID-19 vaccines and other biologics. WuXi Biologics plans additional investments in process equipment at the Wuppertal site. “We are very proud to have provided legal support for the purchase of this major vaccine production facility,” said attorney Dirk W. Kolvenbach. “Through this transaction, we can also make an important contribution on an advocacy level for vaccine manufacturing, including COVID-19 vaccines, in Germany.”
With the conclusion of the agreement, Bayer and WuXi Biologics have at the same time entered into a long-term sublease and a service agreement. Bayer will provide various services to WuXi Biologics during the start-up of the plant, contributing its own resources. The signing already took place on December 21, 2020. The transaction volume, including the lease, is over 150 million euros.
WuXi Biologics is listed on the Hong Kong Stock Exchange and is a leading global open access biologics technology platform. The company provides end-to-end solutions to help companies discover, develop and manufacture biologics from concept to commercial production. For Kolvenbach’s team, this is not the first transaction for WuXi. Heuking had already advised WuXi Biologics on the acquisition of a drug formulation plant from Bayer in 2020.
Advisor to WuXi Biologics: Heuking Kühn Lüer Wojtek
Dirk W. Kolvenbach (Corporate Law/ Project Coordination), Düsseldorf
Michael Pauli, LL.M. (Corporate Law/Project Coordination), Cologne
Mathis Dick, LL.M. (Real Estate), Düsseldorf
Michael Below, (Public Law), Düsseldorf
Dr. Bodo Dehne (investment control), Düsseldorf
Wolfram Meven (Tax Law), Düsseldorf
Dr. Rainer Velte (Antitrust Law), Düsseldorf
Fabian Gerstner, LL.M., Munich, Bettina Neheider (both Construction Law), Munich
Dr. Tobias Plath, LL.M. (Insurance Law), Torsten Groß, LL.M. (Labor Law), Sarah Radon, LL.M. (Commercial), all Düsseldorf