Hong Kong – LawFuel.com – Orrick, Herrington & Sutcliffe LLP (Orrick) has advised One Equity Partners (OEP), the global private equity investment arm of JP Morgan Chase & Co, in the purchase by its wholly-owned affiliate, OEP CHME Holdings, LLC, of a controlling stake in China Medicine Corporation* (China Medicine).
The equity investment of US$69.6 million with China Medicine, a developer and leading distributor of prescription and over-the-counter pharmaceuticals, traditional Chinese medicines and nutritional and dietary supplements, will be used to finance acquisitions and capital expenditures and for working capital.
A team of M&A and tax lawyers from Orrick’s offices in Hong Kong and New York, led by partners Mark Lee and David Cho, advised OEP.
David Cho commented: “China Medicine is OEP’s first investment in Greater China and we are very pleased to have worked with both OEP and China Medicine in making this investment happen.”
He added: “Orrick recently expanded our Hong Kong and China corporate team with an additional partner and a team of associates which extend our depth and execution capabilities in representing both investors and targets in private investments and public offerings in China and Hong Kong, as well as New York and London.”