Kirkland on TCM's $930M Share Sale
State-owned China Traditional Chinese Medicine is selling shares to a group of investors to fund its acquisition of Jiangyin Tianjiang Pharmaceutical.
April 05, 2015 at 11:20 PM
1 minute read
Kirkland & Ellis is advising Hong Kong-listed China Traditional Chinese Medicine Co. Ltd. on a $930 million share sale.
The maker of herbal remedies and other medicines is selling stock to finance its proposed $1.34 billion acquisition of Jiangyin Tianjiang Pharmaceutical Co. Ltd. The deal was announced in January and is expected to close next month.
The biggest portion of shares, $360 million worth, will be sold to state-owned parent China National Pharmaceutical Group Corp., or Sinopharm, the country's largest pharmaceutical maker. The remainder will go to two executive directors and 25 other institutional investors.
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