Ropes & Gray is representing the buyer group consortium and TPG in the going private transaction of the ShangPharma Corporation in China, announced Dec. 21. ShangPharma is a leading pharmaceutical and biotechnology research and development outsourcing company. The transaction, which is currently expected to close during the first or second quarter of 2013, is subject to customary closing conditions as well as shareholder approval.
This is the second take-private transaction in China that Ropes & Gray has been involved with this month. Ropes & Gray also is representing China Everbright Limited as a member of the buyer consortium in the US $3.7 billion take-private acquisition of Focus Media Holding Ltd., announced on Dec. 19.