Advestra advises Lonza on the divestment of its Capsules & Health Ingredients (CHI) business

Lonza has entered into a definitive agreement relating to the sale of the Capsules & Health Ingredients (CHI) business to Lone Star Funds for an enterprise value of CHF 2.3 billion (USD 3 billion). Lonza will receive upfront proceeds of CHF 1.7 billion (USD 2.2 billion) and retain a 40% stake in CHI post-closing. The transaction is expected to close in H2 2026, subject to regulatory approvals. The transaction is the last step to complete Lonza's strategic portfolio transformation to a pure-play contract development and manufacturing organization (CDMO).

Advestra acted as Swiss legal counsel to Lonza in the transaction and in connection with the legal separation of CHI from the remaining Lonza business to be completed prior to closing of the transaction. The team included Andreas Hinsen, Anna Capaul, Daryana Maurer and Jana Wildberger (all Corporate | M&A) as well as Sharon Spring (Employment). The Advestra team worked alongside international lead counsel Linklaters and Lonza's in-house legal counsels Daniel Blaettler (General Counsel Corporate, Finance & Transactions), Sarah Chevalley (Associate General Counsel) and Dr Albert Pereda (Associate General Counsel).