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3SBio Inc. Announces Receipt of "Going Private" Proposal at $15 Per ADS
Date:9/12/2012

SHENYANG, China, Sept. 12, 2012 /PRNewswire/ -- 3SBio Inc. (NASDAQ: SSRX) ("3SBio" or the "Company"), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced that its Board of Directors has received a preliminary non-binding proposal letter dated September 12, 2012 from its Chairman and Chief Executive Officer, Dr. Jing Lou, and CPEChina Fund, L.P., an exempted limited partnership registered under the laws of the Cayman Islands and a China-focused private equity fund associated with CITIC Private Equity Funds Management Co. Ltd. ("CITIC PE"), to acquire all of the outstanding shares of 3SBio Inc. not currently owned by Dr. Lou and his affiliates in a going private transaction for $15 per American Depositary Share ("ADS", each ADS representing 7 ordinary shares of the Company) in cash, subject to certain conditions.

According to the proposal letter, the acquisition is intended to be financed through a combination of debt and equity capital, and the buyer consortium has been in discussion with a financial institution which has expressed interest in financing the proposed acquisition.  A copy of the proposal letter is set forth below as Exhibit A.

3SBio's Board of Directors has formed a special committee of independent directors (the "Independent Committee") consisting of Mr. Tianruo (Robert) Pu, Mr. Mingde Yu, and Mr. Peiguo Cong, to consider this proposal. The Independent Committee will retain a financial advisor and legal counsel to assist it in its work. The Board of Directors cautions the Company's shareholders and others considering trading in its securities that the Board just received the preliminary non-binding proposal from Dr. Lou and CITIC PE and no decisions have been made by the Independent Committee with respect to 3SBio's  response to the pro
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SOURCE 3SBio Inc.
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