Legal DealFolio - China Uranium purchase of shares in Vital Group

Slaughter and May advised China International Capital Corporation Hong Kong Securities Limited as financial adviser to China Uranium Development Company Limited ("China Uranium") in relation to its proposed subscription for new shares in Vital Group Holdings Limited ("Vital"), whose shares are listed on the Hong Kong Stock Exchange, for a total consideration of approximately HK$384 million and the proposed acquisition of HK$600 million convertible bonds issued by Vital. The proposed subscription for new shares and the full conversion of the convertible bonds would result in China Uranium acquiring approximately 73.4% of the enlarged share capital of Vital, therefore triggering an obligation on the part of China Uranium to make a general offer for the shares in Vital. A whitewash waiver of the obligation will be sought. China Uranium is a wholly-owned subsidiary of CGNPC Uranium Resources Co., Ltd., which is in turn a subsidiary of China Guangdong Nuclear Power Holding Corporation ("CGNPC"). CGNPC is a state-owned nuclear power producer with material interests in nuclear fuels procurement and production. CGNPC Uranium Resources Co., Ltd.'s core business activities are managing the supply of nuclear fuels for CGNPC, establishing an interest in and supporting the development of commercial resources and reserves of natural uranium and dealing with the import and export of PRC and overseas natural uranium and related products. The principal activities of Vital's group of companies are selling, distributing and manufacturing pharmaceutical and food products and property investment.

Deal Date:	13-04-2011	Practice Area:	Corporate and M&A
Deal Title:	China Uranium purchase of shares in Vital Group	Industry:	Pharmaceuticals & Biotechnology
Description:	Slaughter and May advised China International Capital Corporation Hong Kong Securities Limited as financial adviser to China Uranium Development Company Limited ("China Uranium") in relation to its proposed subscription for new shares in Vital Group Holdings Limited ("Vital"), whose shares are listed on the Hong Kong Stock Exchange, for a total consideration of approximately HK$384 million and the proposed acquisition of HK$600 million convertible bonds issued by Vital. The proposed subscription for new shares and the full conversion of the convertible bonds would result in China Uranium acquiring approximately 73.4% of the enlarged share capital of Vital, therefore triggering an obligation on the part of China Uranium to make a general offer for the shares in Vital. A whitewash waiver of the obligation will be sought. China Uranium is a wholly-owned subsidiary of CGNPC Uranium Resources Co., Ltd., which is in turn a subsidiary of China Guangdong Nuclear Power Holding Corporation ("CGNPC"). CGNPC is a state-owned nuclear power producer with material interests in nuclear fuels procurement and production. CGNPC Uranium Resources Co., Ltd.'s core business activities are managing the supply of nuclear fuels for CGNPC, establishing an interest in and supporting the development of commercial resources and reserves of natural uranium and dealing with the import and export of PRC and overseas natural uranium and related products. The principal activities of Vital's group of companies are selling, distributing and manufacturing pharmaceutical and food products and property investment.
Financial Center:	Hong Kong	Value:	0.00-100.00
Advised Party:	Financial Advisors	Law Firm	Slaughter and May
Target Company Jurisdiction:	Hong Kong	Acquiror Jurisdiction:	China
Classification:	Strategic Buyer Acquisitions Asset Sales	Lawyer	Lisa Chung

Practice Areas -

Corporate and M&A Law Firms and Lawyers

Practice Areas - Corporate and M&A Law Firms and Lawyers