On 24 October 2024, Shanghai Hile Biology Technologies Co., Ltd. (hereinafter referred to as 'Hile Bio' (603718)), announced the completion and registration of a significant asset acquisition and disposition project.
This transaction encompasses two main components: (1) Hile Bio intends to acquire a 55% stake in Shanxi Reshine Biotechnology Co., Ltd. (hereinafter 'Reshine-Bio') from Maylion Management Limited in an all-cash deal valued at 935 million yuan; (2) Hile Bio plans to sell its 30% equity interest in WuXi Vaccines (Cayman) Inc. to WuXi Biologics (Cayman) Inc. for a cash consideration of $108.5 million. The acquisition and disposition are not contingent upon each other and represent two separate major asset restructuring events.
Reshine-Bio specialises in the research, development, manufacturing, and marketing of oral tissue repair and regeneration materials, while WuXi Vaccines focuses on CRDMO (Contract Research, Development, and Manufacturing Organisation) services for human vaccines, including therapeutic cancer vaccines. Upon completion of these transactions, Reshine-Bio will become a subsidiary of Hile Bio, significantly expanding its operational scale and substantially bolstering its ongoing operational capabilities.
Serving as Hile Bio's legal counsel, Llinks provided comprehensive legal services throughout the entire process of this transaction, including project due diligence, commercial negotiations, drafting of transaction agreements, and regulatory review by the stock exchange.
