Maples Advises on US$4.76B Take Private of China Biologic Products
Maples and Calder, the Maples Group’s law firm, is pleased to announce that its Hong Kong Corporate practice recently advised China Biologic Products Holdings, Inc. (“CBPO”), and the special committee of its board of directors, on CBPO’s US$4.76 billion take-private. The buyer consortium comprises Centurium Capital, CITIC Capital, Mr. Marc Chan, Hillhouse Capital, Temasek Holdings, and Mr. Joseph Chow, CEO and chairman of the board of directors of CBPO and their respective affiliates.
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CBPO, a Cayman Islands company previously listed on the NASDAQ Global Select Market, is a fully integrated plasma-based biopharmaceutical company in China. The company’s 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 Hong Kong team was led by Corporate Partners, Richard Spooner and Karen Zhang Pallaras. The Group’s Asia team has considerable experience in advising on Chinese take-private transactions, many of which have involved multi-billion dollar privatisations. The team acted on the US$8.7 billion take-private of 58.com in 2020 and more recently, the US$2.6 billion take-private of Sina Corporation in March 2021.
Davis Polk & Wardwell LLP acted as US legal counsel to CBPO and the special committee and Kirkland & Ellis acted as US legal counsel to the buyer consortium.