Building materials and chemicals company Chongqing Sansheng has revealed its plans to take over a pharmaceutical company also based in China.
Named Liaoyun City Baikang Pharmaceutical, the target company was previously known as Liaoyuan First Pharmaceutical Factory.
The final deal consideration of the acquisition is estimated to be $40.13m.
Recipharm has announced its plan to acquire certain businesses of Kemwell Biopharma.
The sale consideration for the takeover is $205.86m, which will be entirely arranged by Recipharm through various means.
Legal advisors to the transaction are Veritas Legal Services, CalissendroffSwarting Advokatbyra KB, and Obermayer Rebmann Maxwell & Hippel LLP.
PWC Capital is the financial adviser to Recipharm, on the transaction.
Image: Recipharm has announced its plan to acquire certain businesses of Kemwell Biopharma; Photo: courtesy of Kemwell Biopharma.