Ropes & Gray Represents Vivo Capital in Definitive Agreement with Sinovac Biotech Ltd.
Ropes & Gray represented Vivo Capital in a definitive agreement to acquire Sinovac Biotech Ltd., as part of a consortium comprised of the chairman of Sinovac, Weidong Yin, SAIFPartners IV L.P., C-Bridge Healthcare Fund II, L.P., and Advantech Capital L.P.
Sinovac Biotech Ltd. is a leading provider of biopharmaceutical products in China.
The transaction is valued at approximately $401.8 million, with cash consideration equal to $7.00 per common share of Sinovac Biotech Ltd. The transaction was announced on June 26, 2017 and is expected to close in the second half of 2017 subject to customary closing conditions.
The Ropes & Gray team included mergers & acquisitions partner James Lidbury, private investment fund partner Vincent Ip, and private equity associate Boxin Wang.