Hony supports $505m take-private of Simcere Pharmaceutical
Hony Capital is backing a $505 million management buyout of Chinese drug developer Simcere Pharmaceutical Group. It takes the number of take-private deals involving US-listed Chinese companies to 13, according to AVCJ Research.
New Good Management, a vehicle controlled by Simcere chairman Jinsheng Ren, and Hony-owned Assure Ahead Investments have offered to pay $9.56 per share in cash for all outstanding American Depository Shares....
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