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Tophat arrangement creates new-look life sciences group

Tophat arrangement creates new-look life sciences group

Merge

Two entities in the QBiotics Group have merged under a new parent company.

Firm: Thomson Geer (QBiotics Limited and EcoBiotics Limited)

Deal: QBiotics Limited and EcoBiotics Limited merged under new holding company QBiotics Group Limited.

Value: $130 million

Area: M&A

Key players: The Thomson Geer Brisbane team advising QBiotics Limited and QBiotics Group Limited was led by partners Roberta Bozzoli (pictured) and Philip Byrnes.

The firm’s Sydney team advising EcoBiotics Limited was led by partners Dan Kramer and Ebru Davidson.

Deal significance: The QBiotics Group undertook a $130 million merger, using two schemes of arrangement to top hat existing companies QBiotics Limited and EcoBiotics Limited under the new holding company QBiotics Group Limited.

The merger brings together QBiotics’ pharmaceutical product development and marketing capabilities and EcoBiotics’ expertise in discovery and early-stage development of new bioactive compounds.

The merger was intended to enable QBiotics Group to become a leading life sciences company, according to a statement from Thomson Geer.

The firm advised all parties in the deal working on QBiotics and EcoBiotics’ respective schemes of arrangement.

Thomson Geer said 2017 was the first year in which two schemes were simultaneously proposed to top hat two companies, rather than one scheme to top hat a company group.

"It was a privilege to work with our longstanding client, QBiotics, on this significant step in their continued growth," said Thomson Geer partner Roberta Bozzoli.

"EcoBiotics and QBiotics have complementary skills and capabilities, so combining the two has all the ingredients for a highly successful new entity.

"We look forward to witnessing the continued growth and development of this leading Australian life sciences company."

Pictured: Thomson Geer partner Roberta Bozzoli

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