Jurisdiction - China
Shearman & Sterling Advises On Simcere Pharmaceutical Group Going-Private Transaction.

30 August, 2013


Shearman & Sterling is serving as U.S. legal advisor to the Special Committee of the Board of Directors of Simcere Pharmaceutical Group (“Simcere”) in connection with Simcere’s going-private transaction which values Simcere’s equity at approximately US$539.5 million.   
Upon completion of the transaction, Simcere will be indirectly owned by members of the buyer group or their affiliates, which include Mr. Jinsheng Ren (chairman of Simcere), Mr. Hongquan Liu (director and chief executive officer of Simcere), Hony Capital, Trustbridge Partners and Fosun Industrial Co., Limited. The transaction is expected to close around the end of 2013.
Simcere is a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded and proprietary pharmaceuticals in China. Simcere concentrates its research and development efforts on the treatment of diseases with high incidence and/or mortality rates and for which there is a clear demand for more effective pharmacotherapy such as cancer, strokes, cardiovascular disease, infectious diseases and pain.
The Shearman & Sterling team includes partner Paul Strecker (Hong Kong-Mergers & Acquisitions), counsel Yi Zhang (Hong Kong-Mergers & Acquisitions), associates Justin Mark (Hong Kong-Mergers & Acquisitions), Ning Liu (Singapore-Mergers & Acquisitions), Yunpeng Fan and Sha Sha (both Beijing-Asia Corporate).
Other attorneys involved in the transaction are partners Shuang Zhao (Hong Kong-Capital Markets), Laurence Crouch (Palo Alto-Tax), Richard Hsu (Palo Alto-Intellectual Property Transactional), Doreen Lilienfeld (New York-Executive Compensation & Employee Benefits), Sanja Udovicic (Singapore-Project Development & Finance), counsel Eileen O'Pray (Palo Alto-Tax), associates Zheng Bao (Palo Alto- Intellectual Property Transactional), Gary Tashjian (New York-Executive Compensation & Employee Benefits), Alfred Ng (Singapore-Project Development & Finance) and international specialist Shan Wu (Beijing-Asia Corporate).


Maples and Calder is serving as Cayman Islands legal advisor to the Special Committee. Davis Polk & Wardwell LLP is serving as U.S. legal advisor to the financial advisor. Cleary Gottlieb Steen & Hamilton LLP is serving as U.S. legal advisor to the buyer group.


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