BioCentury
ARTICLE | Company News

Beijing Jialin, Luye deal

September 1, 2014 7:00 AM UTC

Luye Pharma will pay RMB3.7 billion ($599 million) in a tranched cash deal to acquire a 57.98% stake in Beijing Jialin, a subsidiary of Mylin Holdings Group Co. Ltd., from Mylin Holdings and Beijing CITIC. Mylin will ask the other Beijing Jialin shareholders to sell Luye their remaining 42.02% interest. Those shareholders would be paid a pro-rated price no higher than the price paid to Mylin Holdings. Luye will receive a 31.81% stake in a first tranche for RMB1.8 billion ($297.4 million), a 15.91% stake in a second tranche for RMB1.3 billion ($205.7 million) and a 10.26% stake in a third tranche for RMB590 billion ($95.9 million). ...