Ping An Consortium Invests in Nu Skin Enterprises
Paul Hastings LLP, a leading global law firm, announced today that it represented Ping An ZQ China Growth Opportunity Limited (“Ping An ZQ China Growth Opportunity”) in a $210 million strategic investment in consumer beauty products company Nu Skin Enterprises. Ping An ZQ China Growth Opportunity consists of a consortium of experienced Chinese investors led by Ping An of China Securities (Hong Kong) Company Ltd and a group of additional investors affiliated with ZQ Capital Limited.
Under the terms of the investment, Ping An ZQ China Growth Opportunity is purchasing $210 million in aggregate principal amount of 4.75 percent, four-year convertible senior notes with an initial conversion price of $46.50 per share. The convertible notes will be general unsecured obligations of Nu Skin and will mature on June 15, 2020.