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Morrison & Foerster Advises Cordlife Group And Magnum On Acquisition Of Senior Convertible Note Issued By China Cord Blood Corporation.

28 August, 2014

 

Morrison & Foerster is advising Cordlife Group Limited (“Cordlife”), a Singapore listed healthcare company, and private company Magnum Opus International Holdings Limited (“Magnum”) on their purchase in equal proportions from Hong Kong listed Golden Meditech Holdings Limited (“Golden Meditech”), of a 7% senior convertible note due 2017 issued by Chinese blood bank operator China Cord Blood Corporation to Golden Meditech in the principal amount of USD 50m. Pursuant to the convertible note purchase agreement signed among Cordlife, Magnum and Golden Meditech on August 25, 2014, the total consideration payable to Golden Meditech is approximately USD 88.1m. The transaction is subject to certain closing conditions, including the approval of Golden Meditech’s independent shareholders.

 

The deal team was led by Morrison & Foerster’s partners Shirin Tang and Michael O’Bryan. Additional team members include partners David Lynn, Dale Caldwell and Peter Dopsch.

 

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