Beijing – Orrick represented Sequoia Capital as a consortium member in connection with the privatization of WuXi PharmaTech (NYSE: WX), a leading open-access R&D capability and technology platform company serving the pharmaceutical, biotechnology and medical device industries with operations in China and the United States.
The consortium was led by WuXi PharmaTech’s chairman and CEO Dr. Ge Li, Hillhouse Capital and Ally Bridge Group Capital Partners, along with other investors including Sequoia Capital, Boyu Capital, Temasek, Ping An Insurance, Legend Capital, Yunfeng Capital and SPDB International.
The going-private transaction, which was completed on December 10, 2015, was valued at approximately US$3.3 billion. The Orrick team was led by Beijing corporate partner Ning Zhang and San Francisco M&A and private equity partner Richard Vernon Smith, along with Hong Kong corporate associate Martin Chiu.
WuXi PharmaTech’s press release can be viewed here.