On November 19, 2020, China Biologic Products Holdings, Inc., a leading fully integrated plasma-based biopharmaceutical company in China, announced that it has entered into a definitive agreement and plan of merger, pursuant to which China Biologic will merge with a special-purpose vehicle that shall, at the effective time of the merger, be beneficially owned by a buyer group consisting of Centurium Capital, CITIC Capital, Mr. Marc Chan, Hillhouse Capital, V-Sciences Investments Pte Ltd, and Mr. Joseph Chow (CEO and chairman of the board of directors of China Biologic). The proposed transaction implies an equity value of China Biologic of approximately US$4.76 billion. In connection with China Biologic’s going-private transaction, on October 26, 2020, PW Medtech Group Limited, a major shareholder of China Biologic and a member of the buyer group, entered into definitive agreements for the sale of 5,321,000 shares of China Biologic in the aggregate at a price of US$120.00 per share to three entities controlled by CITIC Capital and Mr. Joseph Chow, respectively. PW Medtech will cease to be a member of the buyer group upon closing of the share sale transaction. CBPO’s going-private transaction is expected to close during the first half of 2021, subject to customary closing conditions, including the approval by shareholders of China Biologic.

Wilson Sonsini Goodrich & Rosati acted as international counsel to PW Medtech Group Limited in the share sale and CBPO’s going-private transactions, and as the co-U.S. legal counsel and Hong Kong legal counsel to the buyer group in CBPO’s going-private transaction.

The Wilson Sonsini team was led by partners Weiheng Chen, Jie Zhu, and Wanda Woo, and included Jill Sheng, Leo Zhou, Billy Yiu, Helen Wang, and Jingxian Huang.

For more information, please see China Biologic’s press release.