China Biologic going-private transaction
Davis Polk is advising the special committee of the board of directors of China Biologic Products Holdings, Inc. (“China Biologic”) in connection with the going-private acquisition of China Biologic by a consortium consisting of certain funds affiliated with Centurium Capital, CITIC Capital, Hillhouse Capital and Temasek and certain other investors and senior management of China Biologic, which transaction implies an equity value of China Biologic of approximately $4.76 billion. The transaction is subject to customary closing conditions, including the approval by the shareholders of China Biologic, and is expected to close in the first half of 2021.
Headquartered in Beijing, China, and listed on Nasdaq, China Biologic is a leading fully integrated plasma-based biopharmaceutical company in China. Its products are used as critical therapies during medical emergencies and for the prevention and treatment of life-threatening diseases and immune-deficiency related diseases.
The Davis Polk corporate team includes partner Howard Zhang, counsel – registered foreign lawyer Yunpeng Fan and registered foreign lawyers Jie Zhang and Mo Zhou. Associate Kai Sun is providing Hong Kong law advice. Members of the Davis Polk team are based in the Beijing and Hong Kong offices.