Ropes & Gray Advises Harbin Pharmaceutical in a $300 Million Strategic Investment and China Joint Venture with GNC Holdings, Inc.
Ropes & Gray is advising Harbin Pharmaceutical Group Holding Co., Ltd, a leading pharmaceutical company in China, in a strategic investment of approximately $300 million in GNC Holdings, Inc. Upon closing, it will become the single largest shareholder in GNC.
In addition, GNC and Harbin Pharmaceutical have agreed to form a joint venture for the manufacturing, marketing, sale and distribution of GNC-branded products in China. The transaction is expected to close in the second half of 2018, subject to customary closing conditions.
The Ropes & Gray team was led by corporate partner Michael Littenberg.