Frankfurt - Paul Hastings LLP, a leading global law firm, has advised European medical cannabis producer and distributor, Four 20 Pharma, in connection with the acquisition of a 55% stake in the company by international consumer cannabis provider, Curaleaf.

Four 20 Pharma is among the largest cannabis operators in Germany with over 10% market share. The deal will create a strategic pathway for Curaleaf to acquire complete control of Four 20 Pharma over the coming years, as Germany transitions, from a medical to an adult use market. Germany currently represents the largest medical cannabis market in Europe, and with adult use legalisation expected by early 2024, the market is expected to grow to nearly EUR1bn.

The unique partnership promotes alignment between Curaleaf and Four 20 Pharma to capitalise on the growing demand for adult use cannabis products in the European market as regulation begins to loosen. The transaction will allow Four 20 Pharma to stake its claim in the future German and European cannabis markets, whilst bringing additional critical mass to Curaleaf's existing European business.

The Paul Hastings team included Frankfurt-based M&A partners Dr. Christopher Wolff, Dr. Regina Engelstaedter and Lars Jessen, Corporate partners, Dr. Katja Kaulamo and Dr. Fritz Kleweta, Senior Tax advisor Uwe Halbig and associates Marc-Lennart Soltau, Christian Mueller, Patrick D. Reuter, David Hauser and Julian Schmitz.

Dedicated to providing intellectual capital and superior execution to the world's leading Wall Street and global investment banks, asset managers and corporations, Paul Hastings is a premier global finance law firm with elite teams in finance, mergers and acquisitions, private equity and litigation. It is one of only a handful of law firms ranked across multiple core finance areas including: structured credit, leveraged finance, private credit, capital markets, and real estate finance.

Paul Hastings is ranked as one of the top firms in the world in The American Lawyer's "Premier League" for momentum, profit and prestige amongst firms in the 2022 American Lawyer 100.

.

(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE