Going-Private Transaction of Synutra

Davis Polk is advising the buyer group consisting of Mr. Liang Zhang, Ms. Xiuqing Meng and Beams Power Investment Limited in connection with the going-private transaction of Synutra International for cash consideration of $6.05 per share of common stock. Mr. Liang Zhang is the chairman and chief executive officer of Synutra. Ms. Xiuqing Meng, spouse of Mr. Zhang, is the sole shareholder of Beams Power Investment Limited, which currently owns approximately 63.5% of Synutra’s outstanding shares of common stock.

The transaction is subject to customary closing conditions, including approval by the stockholders of Synutra. Davis Polk is also advising the buyer group to secure a loan facility from Shanghai Development Bank Ltd. to finance the going-private transaction.

Synutra is a leading infant formula company in China. It principally produces, markets and sells its products through its operating subsidiaries under the “Shengyuan” or “Synutra” name, together with other complementary brands.

The Davis Polk corporate team includes partner Howard Zhang and registered foreign lawyer Brian J. Snyder. Counsel Margie Chan, associate Bingqing Pan and registered foreign lawyer Ying Su are providing credit advice. Partner Po Sit and associate Catherine L. Chu are providing tax advice. Partner Kyoko Takahashi Lin and associate David Mollo-Christensen are providing executive compensation advice.

Involved fees earner: Howard Zhang – Davis Polk & Wardwell; Brian J. Snyder – Davis Polk & Wardwell; Margie Chan – Davis Polk & Wardwell; Bingqing Pan – Davis Polk & Wardwell; Ying Su – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell; Catherine Chu – Davis Polk & Wardwell; Kyoko Takahashi Lin – Davis Polk & Wardwell; David Mollo-Christensen – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Liang Zhang; Xiuqing Meng; Beams Power Investment Limited;

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Author: Michael Patrini