The company focuses on researching, developing, manufacturing and marketing biopharmaceutical products. With headquarters and GMP-certified manufacturing facilities in Shenyang, PRC, 3SBio employs over 800 people.
CITIC funded the deal through its China-focused private equity vehicle CPEChinaFund, alongside debt. The acquisition was made via a special purpose vehicle named Decade Sunshine
Back in February Decade Sunshine and CITIC made take-private offers for 3SBio, valuing it at $15.40 per ADS, or $340m.
Holders of the company’s ordinary shares and American depositary shares (ADS) received $2.39 a share or $16.70 per ADS, a 44 per cent premium over 3SBio’s September share price and per cent over the April share price following a revised offer.
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