CITIC Capital Holdings Limited completed the acquisition of 2.4% stake in China Biologic Products Holdings, Inc. from PW Medtech Group Limited.
The transaction is subject to approval of PW Medtech shareholders, the SC 13E-3 Amendment (as defined in Section 5.2(b) below) has been first filed with the SEC for no less than thirty (30) days, and such SC 13E-3 Amendment has been disseminated in accordance with Rule 13e-3(f) under the Exchange Act for twenty (20) days. The transaction is not subject to approval of shareholders and Board of China Biologic Products Holdings, Inc. The closing will take place after 15 days of fulfillment of conditions. PW Medtech intends to apply the total gross proceeds from these disposal for distribution of a special dividend, repayment of bank loans, capital expenditure or long term investments and general corporate and working capital purposes. On November 19, 2020, PW Medtech Group Limited voted in favor of the agreement. Weiheng Chen of Wilson Sonsini Goodrich & Rosati acted as legal advisors for PW Medtech. Frank Sun of Latham & Watkins LLP acted as legal advisor for CITIC Capital.
CITIC Capital Holdings Limited completed the acquisition of 2.4% stake in China Biologic Products Holdings, Inc. (NasdaqGS:CBPO) from PW Medtech Group Limited (SEHK:1358) on December 30, 2020. All conditions has been filled.