M&T News | M&T Assists CR Boya Bio in Acquiring 100% Equity of Green Cross Hong Kong

On July 17, China Resources Pharmaceutical Group Co., Ltd. (“CR Pharmaceutical”), China Resources Boya Bio Pharmaceutical Group Inc. (“CR Boya Bio”) and GC Corp. (“GC Group”) held a signing ceremony of Strategic Cooperation Agreement and Share Transfer Agreement in Shanghai.

CR Boya Bio acquired 100% equity of Green Cross Hong Kong Holdings Limited (“Green Cross Hong Kong”) held by GC Group for RMB 1.82 billion in self-raised funds, thereby indirectly acquiring its blood products business in China, Green Cross (China) Biological Products Co., Ltd. (“Green Cross (China)”).

M&T served as the acquirer CR Boya Bio’s legal counsel, providing full-process legal services for this acquisition transaction, including legal due diligence, drafting and finalizing transaction documents, etc.

This project was led by partners Xiaoxing (Gavin) Guo, Xiaolin Huang, and senior lawyer Xinyi Gong.

About CR Boya Bio

China Resources Boya Bio Pharmaceutical Group Inc. (stock abbreviation: Boya Bio, stock code: 300294) was established in 1993 and is the blood products platform of CR’s healthcare sector. It is a comprehensive pharmaceutical industry group integrating blood products, biochemical drugs, chemical drugs, and raw materials. It is one of the few enterprises in China with a complete range of three major product categories: human serum albumin, human immunoglobulin, and coagulation factors.

CR Boya Bio has four subsidiaries and 16 plasma collection stations, with its business spread across Jiangxi, Jiangsu, Sichuan, Beijing, Shanxi, and Hainan. It has 23 specifications of nine varieties in three major categories of blood products. Its core product, human fibrinogen, leads the Chinese market in terms of recovery rate and market share.

About GC Group

Founded in 1967, GC Group is one of the leading enterprises in the Asian biopharmaceutical field, with business in blood products, vaccines, cell and gene therapy, and diagnostic reagents. Green Cross (China) Biological Products Co., Ltd. is a wholly owned subsidiaries in China wholly owned by GC Group through its holding platform company, Green Cross Hong Kong Holdings Limited. It has a registered capital of RMB 158,547,020. The company is focused on the production, research, and development, as well as the sales of blood products and the import and agency sales of GC Group’s products in China. Green Cross (China) Biological Products Co., Ltd. has four plasma collection stations and six varieties of blood products, including albumin, intravenous immunoglobulin, Factor VIII, fibrinogen, hepatitis B immunoglobulin, and tetanus immunoglobulin. It is one of the few blood product enterprises in China that have sales rights for both human Factor VIII and recombinant Factor VIII.