作者:金杜律师事务所 King & Wood Mallesons

上海健耕医药科技股份有限公司(简称“健耕医药”)在金杜律师事务所跨境法律团队的协助下,成功收购设立于美国特拉华州的Lifeline Scientific, Inc. (简称“LSI”),交易规模约8,700万美元,约合人民币5.8亿元,成为首单中国企业收购并私有化在英国上市的美国企业项目。

King & Wood Mallesons’ (KWM) cross-border team has advised Shanghai Genext Pharmaceutical Technology Co., Ltd. (SGM) on its successful acquisition of Lifeline Scientific, Inc. (LSI), a company incorporated in the State of Delaware, the US. It is the first transaction in which a Chinese enterprise acquired a UK-listed US company with a total of US$87 million, equivalent to approximately RMB580 million.

健耕医药是一家设立于上海的医药科技企业,主要从事器官移植药品、移植体外诊断及医疗器械的生产、销售。LSI于2007年在伦敦证券交易所下属替代投资市场(AIM)挂牌上市,是一家致力于研发器官移植过程所需的先进设备和服务的公司,在世界范围内为器官、组织、细胞的移植提供配套的设备与服务。健耕医药通过收购LSI将进一步拓展其海外市场,增强其在器官移植药品、移植体外诊断及医疗器械领域的竞争力。据悉,随着中国器官移植市场的显著增长趋势,健耕医药未来还有进一步在中国境内寻求资本运作的计划。

Headquartered in Shanghai, SGM is a pharmaceutical technology company specializing in the manufacture and sale of transplant therapeutics, diagnostics and medical devices. LSI is a London AIM-listed company providing clinical products and services supporting equipment and services for organs, tissues and cells transplantation around the world. The acquisition enabled SGM to further expand its overseas market and strengthen its competence in the field. As the Chinese organ transplant market is growing significantly, SGM reportedly has plans to seek future capital operation in China.

受英国“脱欧”直接导致英镑与其他世界货币间的剧烈波动影响,本次收购项目成为首单以美元而非英镑交易的伦敦AIM上市公司私有化项目。同时,本次收购中,健耕医药引入阳光保险集团组成的投资财团,通过在上海自贸区设立特殊目的公司并搭建双层结构的创新性设计实现顺利收购;该结构确保了健耕医药控制权的稳定性,也为最终在中国境内资本运作做好了充分准备。

This is the first time that a London AIM-listed company has been offered in USD rather than GBP, a direct consequence of the Brexit vote, leading to significant fluctuations in the GBP versus other world currencies. In this transaction, SGM introduced an investment consortium composed of Sunshine Insurance Group, and completed the acquisition by establishing a special purpose vehicle and building an innovative two-tier structure in the Shanghai Pilot Free Trade Zone. The structure ensures SGM’s stable control, laying a foundation for its capital operation in China in the future.

金杜跨境团队担任融资方/收购方的法律顾问和本项目的首席法律顾问,为健耕医药提供了境内外完整的法律服务链条,包括为前期交易方案、投资团引入的法律论证和结构设计、境内融资交易、境外并购交易涉及的中国法律问题、英国上市公司私有化流程以及新三板公司定增等审批流程等各方面提供法律服务。该项目的负责合伙人为中国办公室的龚牧龙、张劲松以及伦敦办公室的William Holder,合伙人高怡敏也提供了大力支持。

A KWM cross-border team acted as legal counsel for the borrower/acquiring firm and lead counsel in the transaction, providing the client with a complete chain of domestic and overseas legal services. KWM advised on a full range of legal issues include preliminary transaction scheme, legal argumentation and structural design of the introduction of investors, domestic financing transactions, overseas mergers and acquisitions involving PRC legal issues, the privatization of the UK-listed company as well as the approval procedures involved in the private placement by the NEEQ-listed company. The project was led by partners Gong Mulong and Jeff Zhang of the China office and William Holder of the London office. Partner Gao Yimin also provided strong support.