Intermediate Capital Group has completed the acquisition of SuanFarma from ProA Capital, a private equity firm based in Spain.

Based in the UK, Intermediate Capital Group is an asset management firm, while SuanFarma, is a Spanish supplier of pharmaceuticals to the veterinary and nutraceutical industry.

The transaction will enable the target company to expand its production capacity and develop its pharmaceutical business globally.

Banco Santander and Garrigues were appointed as financial and legal advisers to ProA Capital for the acquisition.

Novartis has sold its 36.5% interest in a consumer healthcare joint venture to GlaxoSmithKline (GSK) for $13bn.

“Novartis has sold its 36.5% interest in a consumer healthcare joint venture to GlaxoSmithKline (GSK) for $13bn.”

The transaction will be closed in the second quarter of this year subject to GSK shareholder approval and other necessary regulatory approvals.

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GSK will become the sole owner of the joint venture, upon completion of the transaction.

Based in Switzerland, Novartis is a pharmaceutical company that manufactures generic drugs, over-the-counter drugs and vaccines, while GlaxoSmithKline (GSK) is a research-based pharmaceutical and healthcare company based in the UK.

The transaction will enable Novartis to focus on its core businesses.