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Hony Capital Backs Simcere Pharmaceutical Group's Privatization Bid



3/21/2013 1:54:11 PM

by Richard Daverman, PhD

March 21, 2013 -- Hony Capital, the China-based private equity firm that is backed by the conglomerate Legend Capital, will support Simcere’s $506 million privatization offer. Simcere’s Chairman, Ren Jinsheng, announced a bid for the Nanjing pharma on March 13. Hony, which made its first Simcere investment in 2005, currently owns 17% of the company. The company has not disclosed the size of its financial commitment. More details....

Stock Symbol: (NYSE: SCR)


Read at ChinaBio Today


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