Hygeia Healthcare’s RMB1.73 Billion Acquisition of Etern Group

Appleby and Morrison Foerster advised Ascendent Capital Partners on its disposal of Etern Group Ltd., which indirectly holds 98% of the equity interest in a general hospital in Suzhou, to Hygeia.

Shanghai-based, Hong Kong-listed Hygeia Healthcare has agreed to acquire Etern Groupfor a total consideration of RMB1,734,600,000 (approximately US$267 million). 

Hygeia is a Hong Kong Main Board listed issuer, and its acquisition of Etern Group Ltd. is a major transaction that requires public disclosure and shareholders’ approval for closing.

The Appleby team was led by David Bulley (PIcture) and Alejandra Gonzalez Saucedo. 

The MoFo team was led by Marcia Ellis, Hong Kong partner and global chair of the firm’s Private Equity Group, and Shanghai M&A/PE partner Ruomu Li. Key members of the M&A team included Hong Kong partner Vivian Yiu, Hong Kong partner Matthew Lau, Hong Kong of counsel Maureen Ho, Beijing associate Richard Ji, Shanghai senior consultant Huijun Zhang, and Hong Kong trainee solicitor Vivien Chiu.


Involved fees earner: David Bulley – Appleby; Marcia Ellis – Morrison & Foerster; Maureen Ho – Morrison & Foerster; Richard Ji – Morrison & Foerster; Matthew Lau – Morrison & Foerster; Ruomu Li – Morrison & Foerster; Vivian Yiu – Morrison & Foerster; Huijun Zhang – Morrison & Foerster;

Law Firms: Appleby; Morrison & Foerster;

Clients: Ascendent Capital Partners;