Law firm Paul Hastings has advised CDH Genetech (CDH), part of the CDH Investments group, on its agreement to acquire Australian-based medical device company Sirtex Medical (Sirtex) for AUD33.60 per share in cash through a Scheme of Arrangement.
CDH is transacting the deal in conjunction with Hong Kong-listed China Grand Pharmaceutical and Healthcare Holdings Limited (CGP). On a fully diluted basis, the CDH-CGP Scheme represents a total equity purchase price for Sirtex of approximately USD1.4 billion. Lazard is acting as sole financial advisor to CDH.
CDH is a dedicated alternative asset fund manager with approximately USD20 billion of assets under management. CDH plans to invest in Sirtex to ensure its continued success and enhance its growth prospects globally in existing and new markets.
The Paul Hastings team was led by Raymond Li, partner and Chair of Greater China, and corporate partner Vivian Lam, with support from Fang Pei, Jeff Lee, Hulka Lo and May Lun in Hong Kong; Sophie Han in Shanghai; Robert Silvers, Scott Hataway, Scott Flicker, Charles Patrizia, Quinn Dang, and Reade Jacob in Washington, DC; David Shine, Vincent Buehler and Jordan Goldman in New York; Tiffany Lee in Palo Alto; Regina Engelstädter and Sebastian Klein in Frankfurt; and Pierre Kirch in Paris.
The acquisition marks another billion-plus M&A transaction for the Paul Hastings team, which has demonstrated significant strength over many years in the most complex global transactions, including acting for WH Group (formerly known as Shuanghui International) on its acquisition of Smithfield Foods in 2013, and currently acting for COSCO SHIPPING Holdings Co in a voluntary general cash offer for all of the issued shares of Orient Overseas (International) Limited pursuant to the Hong Kong Takeovers Code.
With a strong presence throughout Asia, Europe, Latin America, and the US, Paul Hastings is recognized as one of the world’s most innovative global law firms.
