Walkers Advises Oaktree Acquisition Corp. II on US$2.25 billion Business Combination with Alvotech

Walkers is pleased to have acted as Cayman Islands counsel to Oaktree Acquisition Corp. II ("Oaktree") on its definitive US$2.25 billion business combination agreement with Alvotech Holdings ("Alvotech").

Alvotech, founded in 2013 in Reykjavik, Iceland, is a leading global biopharmaceutical company focused solely on the development and manufacture of biosimilar medicines for patients worldwide. The Oaktree transaction is expected to deliver gross proceeds in excess of US$450 million to Alvotech to fund its growth trajectory.

Walkers acted alongside US counsel Kirkland & Ellis and was led by Cayman Islands partners Caroline Williams and Andrew Barker with assistance from senior counsel Christine Ballantyne-Drewe and associate Sam Francis.

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