Citic Capital China Partners IV, L.P., a fund of CITIC Capital Partners, PW Medtech Group Limited (SEHK:1358), Parfield International Ltd., V-Sciences Investments Pte Ltd, Centurium Capital Partners 2018, L.P. and Centurium Capital 2018 Co-invest, L.P., funds of Centurium Capital and an unknown buyer made a non-binding proposal to acquire remaining 42% stake in China Biologic Products Holdings, Inc. (NasdaqGS:CBPO) for $2 billion on September 18, 2019. The buyers will acquire shares at $120 per share in cash. Prior to the transaction, the buyers own approximately 58% stake in China Biologic Products Holdings, Inc. The transaction shall be funded through a combination of equity and debt capital. Equity financing will be provided by the buyers and debt financing will be secured.

Transaction is subject to entering into definitive agreement, all consents or waivers being obtained by parties and shareholders' approval from PW Medtech Group Limited. It is expected that the Board of will establish a special committee comprised of independent and disinterested directors of China Biologic Products Holdings, Inc. Transaction was approved by shareholders of PW Medtech Group Limited on November 7, 2019. As of September 24, 2019, the Board of Directors of China Biologic Products Holdings, Inc. formed a special committee comprising of Sean Shao, Yungang Lu and Qi Ning, who are independent directors of the China Biologic Products Holdings, Inc. and are unaffiliated with the proposal. Sean Shao will be the chairman of the Special Committee. The deal can be terminated, if closing not completed within six months. As per the agreement of March 17, 2020, if the closing of the transactions contemplated by June 30, 2020, then it will further extended.

Sarkis Jebejian , Joshua N. Korff and Xiaoxi Lin of Kirkland & Ellis and Weiheng Chen and Jie Zhu of Wilson Sonsini Goodrich & Rosati acted as the legal advisors to the buyers. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to China Biologic Products Holdings, Inc.Harney Westwood & Riegels and Fangda Partners acted as legal advisors to consortium of buyers. Duff & Phelps, LLC and Duff & Phelps Securities, LLC acted as financial advisors and Davis Polk & Wardwell LLP as legal advisor to China Biologic Products Holdings, Inc. Qiuning (Frank) Sun of Latham & Watkins (Hong Kong) acted as legal advisor to CITIC Capital Partners. Christopher H. Cunningham of K&L Gates LLP acted as legal advisor to Parfield in the transaction. Tim Gardner and William Welty of Weil, Gotshal & Manges acted as legal advisor to buyers in the transaction.

Citic Capital China Partners IV, L.P., a fund of CITIC Capital Partners, PW Medtech Group Limited (SEHK:1358), Parfield International Ltd., V-Sciences Investments Pte Ltd, Centurium Capital Partners 2018, L.P. and Centurium Capital 2018 Co-invest, L.P., funds of Centurium Capital and an unknown buyer completed the acquisition of remaining 42% stake in China Biologic Products Holdings, Inc. (NasdaqGS:CBPO) on May 8, 2020.