As part of an overall strategy to strengthen its focus on its core life sciences business, the company reached a definitive agreement to sell one of its businesses, with operations in 24 countries.
An overriding goal of the divestiture, which would generate more than €1 billion, was to ensure business continuity for both customers and employees during and after the transaction. From day one, the divested entity needed fully functional, standalone operations based on transitional service agreements (TSAs)—including a fully-operational, integrated enterprise resource planning (ERP) system to support the business models localized for each country. The company would continue to distribute the divested business’s products under a distributor services agreement for an agreed period of time.
To achieve these goals, the company chose to team with Accenture Strategy for its global reach, deep industry knowledge and experience in large, complex divestitures.