Hong Kong-listed Shandong Luoxin Pharmaceutical Group’s Privatization Offer


Kirkland & Ellis is advising Ally Bridge Group, as a joint offeror with a consortium established by an affiliate of the target company’s controlling shareholder and GL Capital Group, in its proposed HK$2.34 billion (US$300 million) privatization offer for the H shares of Shandong Luoxin Pharmaceutical Group (HKSE: 8058) by way of a voluntary conditional cash offer.

The transaction is conditional on, amongst other things, Shandong Luoxin’s shareholders approval.

Shandong Luoxin is a Chinese pharmaceutical company whose H shares have been listed on the Hong Kong Stock Exchange since 2005. The voluntary conditional cash offer will only be extended to the holders of H shares of Shandong Luoxin and no offer will be extended to the holders of domestic shares of the company.

Ally Bridge Group is a global healthcare-focused investment group, with a healthcare investment portfolio in China, the United States and Europe.

The Kirkland team is led by corporate partners Nicholas Norris (Picture) and Joey Chau, with assistance from debt finance partners David Irvine and Daniel Lindsey.

Involved fees earner: Nicholas Norris – Kirkland & Ellis; Joey Chau – Kirkland & Ellis; Joey Chau – Kirkland & Ellis; David Irvine – Kirkland & Ellis; Daniel Lindsey – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Ally Bridge Group;

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Author: Michael Patrini