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Sihuan Pharmaceutical Holdings Group to Acquire Smart Baskets Investments Ltd.
Practices
Paul, Weiss client Sihuan Pharmaceutical Holdings Group Ltd., through its subsidiary Sun Moral International (HK) Limited, entered into a share purchase agreement on June 22 to acquire 100 percent equity interest in Smart Baskets Investments Ltd. for a consideration of RMB 775 million (approximately US$120 million).
Sihuan is a Morgan Stanley Private Equity portfolio company that, through its operating subsidiaries in China, is engaged in the research, production and sale of pharmaceutical drugs, and specializes in cardiocerebral vascular drugs. Smart Baskets is a BVI investment holding company that owns 100 percent of the equity interests in Vinise Pharmaceutical Limited and Hainan Litzman Pharmaceutical Limited, both engaged in the production and sale of pharmaceutical products.
The Paul, Weiss team acting as lead counsel to Sihuan includes corporate partner John E. Lange and counsel Gary Li.