CDH Investments to Acquire Sirtex for US$1.4 Billion
Hong Kong – Paul Hastings, a leading global law firm, announced today that it has advised CDH Genetech Limited (“CDH”), part of the CDH Investments group, on its agreement (together with Hong Kong-listed China Grand Pharmaceutical and Healthcare Holdings Limited (“CGP”)) to enter into a Scheme Implementation Deed with Australian-based medical device company Sirtex Medical Limited (“Sirtex”) to acquire all the issued shares of Sirtex for A$33.60 per share in cash through a Scheme of Arrangement. On a fully diluted basis, the CDH-CGP Scheme represents a total equity purchase price for Sirtex of approximately US$1.4 billion. Lazard is acting as sole financial advisor to CDH.
CDH is a dedicated alternative asset fund manager with approximately US$20 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
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
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