Global law firm Clifford Chance is advising SciClone Pharmaceuticals (Holdings) Limited on its proposed privatisation by healthcare-focussed private equity firm GL Capital. The transaction was implemented via a scheme of arrangement, which allows for a cash consideration up to an approximate total of HK$8.79 billion (approximately US$1.12 billion).

SciCIone Pharmaceuticals specialises in the development and commercialisation of a dynamic portfolio of pharmaceutical products, with a focus on therapeutic areas of oncology and severe infection. The firm advised SciClone Pharmaceuticals on its Hong Kong IPO and listing in 2021.
Partners Christine Xu and Tommy Tam led the Clifford Chance team, which includes counsel Samson Chan, associates Anson Wong and Charmaine Lee and trainee solicitor Alice Tsui.

Lead partner Christine Xu commented, “We are proud to once again partner with our valued client SciClone Pharmaceuticals on their strategic privatisation by GL Capital. This transaction builds on our deep understanding of the pharmaceutical sector and our experience advising on many of the market’s most significant take-private transactions.”

Clifford Chance has an extensive track record in private equity-backed take-private transactions, having advised on CVC and Brooklyn Investment’s privatisation of fashion retailer I.T Limited, MBK Partners’ US$1.1 billion privatisation of Car Inc., and PAG’s acquisition of controlling stake in and mandatory general offer for poultry producer Shandong Fengxiang.