Global law firm Clifford Chance has acted as international legal counsel and advised CBC Group, Asia’s largest healthcare-dedicated asset management firm and Mubadala, an investment company headquartered in Abu Dhabi, in signing a strategic transaction with UCB, a global biopharmaceutical company based in Belgium. The transaction involves the sale, divestment and license of UCB’s mature business (neurology and allergy) in China, including Keppra®, Vimpat®, Neupro®, Zyrtec®, Xyzal® as well as UCB’s Zhuhai manufacturing site, to CBC Group and Mubadala, for an amount of US$680 million.
The transaction is subject to certain closing conditions, including required anti-trust clearance(s) and other customary conditions, and is expected to close in Q4 2024.
Shanghai partner Yang Yi said, “We are honoured to have supported CBC Group and Mubadala in this strategic acquisition. It again demonstrates the strength and depth of our cross-border capabilities, and underscores our ability to deliver comprehensive legal solutions across multiple jurisdictions.”
Yi led a cross-border team of lawyers in China, Belgium and Germany. The team comprised partner Maggie Lo, counsel Bao Fang, Carolin Kemmner and Dayu Man, senior associate Cynthia Mo, associates Haaike Wouters, Annabel Joschko, and Jia Yin Leong and trainee Ashley Tan. Zhong Lun Law Firm acted as PRC local counsel to CBC and Mubadala.
Clifford Chance has a track record of advising on landmark and innovative transactions in the healthcare and life sciences sector including advising on Keymed Biosciences’ out-licensing transaction with Belenos Biosciences, Sciclone Pharmaceuticals HK$8.79 billion privatisation by GL Capital, Haier Group on the global regulatory filings for its acquisition of a 20% equity stake in blood products company Shanghai RAAS from Grifols and medical devices company MicroPort Scientific Corporation on its convertible loan facility and credit support.
