Health and Fitness Health and Fitness
Sun, March 24, 2013
Fri, March 22, 2013
Thu, March 21, 2013
Wed, March 20, 2013
[ Wed, Mar 20th 2013 ] - Market Wire
00am ET
Tue, March 19, 2013
Mon, March 18, 2013
Sun, March 17, 2013
Fri, March 15, 2013
Thu, March 14, 2013
Wed, March 13, 2013
Tue, March 12, 2013
Mon, March 11, 2013
Sun, March 10, 2013
Sat, March 9, 2013
Fri, March 8, 2013
Thu, March 7, 2013
Wed, March 6, 2013
[ Wed, Mar 06th 2013 ] - Market Wire
Alchemia Granted Key US Patent
Tue, March 5, 2013
Mon, March 4, 2013
Sun, March 3, 2013
Sat, March 2, 2013
Fri, March 1, 2013
Thu, February 28, 2013
Wed, February 27, 2013

Simcere Pharmaceutical Group Announces Receipt of quot;;Going Privatequot;; Proposal


//health-fitness.news-articles.net/content/2013/ .. quot-59-59-going-privatequot-59-59-proposal.html
Published in Health and Fitness on Monday, March 11th 2013 at 5:00 GMT by Market Wire   Print publication without navigation


Simcere Pharmaceutical Group Announces Receipt of 'Going Private' Proposal -- NANJING, China, March 11, 2013 /PRNewswire/ --

NANJING, China, March 11, 2013 /PRNewswire/ -- Simcere Pharmaceutical Group ("Simcere" or the "Company") (NYSE: [ SCR ]), a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded and proprietary pharmaceuticals in China, today announced that its Board of Directors has received a non-binding proposal letter from Mr. Jinsheng Ren , New Good Management Limited, Assure Ahead Investments Limited and its affiliates (the "Buyer Group"), pursuant to which the Buyer Group proposes to acquire all of the outstanding ordinary shares of the Company not currently owned by the Buyer Group, for $9.56 per American Depositary Share ("ADS") or $4.78 per ordinary shares in cash. New Good Management Limited is a British Virgin Islands company controlled by Mr. Jinsheng Ren , Chairman of the Board of Directors of the Company.

According to the proposal letter, which is dated March 11, 2013, the Buyer Group will form a transaction vehicle for the purpose of pursuing the proposed transaction, which is intended to be financed with a combination of debt and equity capital.

The Company's Board of Directors has formed a special committee of independent directors (the "Special Committee") consisting of Alan Au and Guoqiang Lin to consider the proposed transaction. The Special Committee has appointed Alan Au as its chairman. The Special Committee intends to retain advisors, including an independent financial advisor and legal counsel, to assist it in its work.  No decisions have been made by the Special Committee with respect to the Company's response to the proposed transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.

About Simcere Pharmaceutical Group

Simcere Pharmaceutical Group ("Simcere" or the "Company") (NYSE: [ SCR ]) is a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded and proprietary pharmaceuticals in China. Simcere concentrates its research and development efforts on the treatment of diseases with high incidence and/or mortality rates and for which there is a clear demand for more effective pharmacotherapy such as cancer, strokes, cardiovascular disease, infectious diseases and pain. For more information about Simcere Pharmaceutical Group, please visit [ www.simcere.com ].

Investor and Media Contacts:

Email: [ ir@simcere.com ]

In Nanjing:

Jie Liu D'Elia

Vice President

Simcere Pharmaceutical Group

Tel: 86-25-8556-6666*8857

In the United States:

Cindy Zheng

Brunswick Group LLC

Tel: 1-212-333-3810

 



In Beijing:

Yue Yu

Brunswick Group

Tel: 86-10-5960-8600


SOURCE Simcere Pharmaceutical Group



RELATED LINKS
[ http://www.simcere.com ]

Publication Contributing Sources