Navigation Links
Simcere Pharmaceutical Group Announces Receipt of "Going Private" Proposal
Date:3/11/2013

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
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Simcere Pharmaceutical Group Reports Preliminary Unaudited Fourth Quarter And Full Year 2012 Results
2. Simcere Pharmaceutical Group to Announce Fourth Quarter and Fiscal Year 2012 Financial Results on Thursday, March 7, 2013
3. Simcere Pharmaceutical Group Announces Sale of Equity Interest in Shanghai Celgen
4. Simcere Pharmaceutical Group Reports Preliminary Unaudited Third Quarter 2012 Results
5. Simcere Pharmaceutical Group to Announce Third Quarter 2012 Financial Results on Thursday, November 15, 2012
6. Simcere Pharmaceutical Group Announces Appointment of New Chief Executive Officer
7. Simcere Pharmaceutical Group Reports Preliminary Unaudited Second Quarter 2012 Results
8. Simcere Pharmaceutical Group to Announce Second Quarter 2012 Financial Results on Friday, August 10, 2012
9. Simcere Pharmaceutical Group Provides Notice of Annual General Meeting
10. Simcere Pharmaceutical Group to Announce First Quarter 2012 Financial Results on Wednesday, May 9, 2012
11. OncoGenex Pharmaceuticals, Inc. Provides Update on Clinical Development Program and Reports Financial Results for Fourth Quarter and Year End 2012
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/19/2017)... CITY, Calif. , Jan. 19, 2017  Abaxis, ... company manufacturing point-of-care blood analysis instruments and consumables for ... conference call to discuss its financial results for the ... The call will be at 4:15 p.m. ET on ... results for the third quarter fiscal year 2017 after ...
(Date:1/19/2017)... , Jan. 19, 2017  Sensus Healthcare, Inc. ... company specializing in the treatment of non-melanoma skin ... with superficial radiation therapy, today announced that it ... 2016 financial results on Thursday, February 2, 2017 after ... hold a conference call with the investment community ...
(Date:1/19/2017)... LEXINGTON, Massachusetts , January 19, 2017 ... SHPG ) announced that the U.S. Food and Drug ... resubmission of a New Drug Application (NDA) for SHP465, ... being evaluated as a potential once-daily treatment for Attention-Deficit/Hyperactivity ... decision on or around June 20, 2017, the designated ...
Breaking Medicine Technology:
(Date:1/20/2017)... ... ... A new partnership between Goodwill® and Roadie, Inc. aims to make it easier ... couches to dressers and bicycles. Roadie — the national on-the-way delivery network — will ... through February 28th. , “January is an exciting time when resolutions are made ...
(Date:1/20/2017)... FL (PRWEB) , ... January 20, 2017 , ... Source ... botanicals and 100 percent pure essential oils, announced the company had a successful visit ... , The annual ECRM event gives companies that work in the nutritional, sports and ...
(Date:1/20/2017)... (PRWEB) , ... January 20, 2017 , ... Bionic Sports ... all walks of life, announced it had a successful January ECRM Trade Show in ... in the United States, which allows it to provide its products to all clients ...
(Date:1/20/2017)... ... January 20, 2017 , ... ATP Science, an Australian-based company ... attended the January ECRM Trade Show in Hilton Head, SC, benefiting from outstanding ... range of supplements that keep the body functioning at its peak performance by ...
(Date:1/20/2017)... boca raton florida (PRWEB) , ... January 20, 2017 , ... ... trial at the Dana Farber Cancer Institute. For Betsy, the clinical trial has ... and her cancer has not worsened. , Betsy Brauser was diagnosed with ovarian ...
Breaking Medicine News(10 mins):