SUCCESSFUL CONSOLIDATION OF
TEVA AND ACTAVIS
Parallelly Forton successfully closed 2 deals – sale of Actavis’ offices and lease of new office building to host all Teva employees.
01
THE OPPORTUNITY
In the end of July 2016 Teva officially acquired Allergan’s generic business, Actavis Generics. Both companies had big operations in Sofia so the consolidation of the offices was a significant aspect of the actual merge. Teva operated in one headquarters (HQ) while Actavis had offices in two different locations, one of them self-owned.
Forton was engaged to represent Teva and to assist with the real estate strategy, providing a wide range of services including:
• Preparing occupier strategy report;
• Sale of Actavis’ offices as part global corporate RE policy;
• Establishing new HQ for all the offices to move in together.
02
THE SOLUTION
Forton’s team made a market analyses and presented a list of office alternatives meeting Teva’s criteria for the new HQ, including properties under construction.
Actavis’ offices were actively promoted to potential buyers – both investors and companies looking to buy for their own operations.
Part of the working strategy included a short-term extension of the current leases in order to secure the possibility for the selection of best project.
03
THE RESULTS
Parallelly Forton successfully closed 2 deals – sale of Actavis’ offices and lease of new office building to host all Teva employees.
Actavis’s two office floors with total area of 3 460 sqm were sold for the amount of 3.5 million euros.
In November 2017 Teva signed a lease agreement for a stand-alone building under construction of nearly 7 200 sqm offices, 260 sqm storage and 105 parking spaces. In May 2018 the 3 different offices of the company were relocated to the new HQ of Teva in FPI Business Hub.
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