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O’Melveny Represents Buyer Consortium in the Privatization of Hong Kong-Listed Shandong Luoxin

June 27, 2017

For Immediate Release

Hong Kong—June 27, 2017—O’Melveny recently represented the buyer consortium in its US$300 million privatization offer for all the H shares of Shandong Luoxin Pharmaceutical Group Stock Co., Ltd. (Shandong Luoxin), a Hong Kong-listed Chinese pharmaceutical company, by way of a voluntary conditional cash offer. The offer was closed on June 26, 2017 and Shandong Luoxin has withdrawn from listing on the Hong Kong Stock Exchange.

The buyer consortium comprised Giant Star Global (HK) Limited (Giant Star), a SPV established by the controlling shareholder family of Shandong Luoxin, Ally Bridge Flagship LX (HK) Limited (a member of the Ally Bridge Group), and GL Instrument Investment L.P. (a member of the GL Capital Group).

O’Melveny advised the consortium members in entering into a definitive consortium agreement as well as the consortium structure and regulatory aspects of the offer, and advised Giant Star in obtaining a financing facility from Ping An Bank Co., Ltd. to finance the offer.

The O’Melveny team was led by partners Edwin Kwok and Ke Geng, and included counsels Ke Zhu, Lillian Cheung, and Ke Huang, as well as associate Ling Zhang and trainee solicitor Steven Lee.

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Contact:

Julie Fei
O’Melveny & Myers LLP
213.430.7792
jfei@omm.com